RioCan Real Estate Investment Trust (TSE:REI.UN) Given Consensus Recommendation of “Moderate Buy” by Brokerages
Shares of RioCan Real Estate Investment Trust (TSE:REI.UN – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$26.06.
A number of equities research analysts have issued reports on REI.UN shares. Canaccord Genuity Group downgraded RioCan Real Estate Investment Trust to a “hold” rating and set a C$26.50 price target for the company. in a research note on Wednesday, April 6th. CIBC cut their price target on RioCan Real Estate Investment Trust from C$26.25 to C$25.00 in a research note on Monday, June 27th. National Bankshares cut their price target on RioCan Real Estate Investment Trust from C$27.50 to C$27.00 and set an “outperform” rating for the company in a research note on Thursday, May 12th. Finally, Royal Bank of Canada cut their price objective on RioCan Real Estate Investment Trust from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Thursday, May 12th.
TSE REI.UN opened at C$20.02 on Friday. The stock has a market capitalization of C$6.20 billion and a price-to-earnings ratio of 9.67. RioCan Real Estate Investment Trust has a 1-year low of C$19.41 and a 1-year high of C$26.11. The company has a debt-to-equity ratio of 83.89, a current ratio of 0.53 and a quick ratio of 0.16. The business’s fifty-day moving average price is C$21.84 and its 200-day moving average price is C$23.21.
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In related news, Director S. Jane Marshall sold 5,800 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of C$21.41, for a total value of C$124,178.00. Following the transaction, the director now directly owns 15,180 shares of the company’s stock, valued at approximately C$325,003.80. Also, insider Naftali Sturm sold 2,639 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of C$20.18, for a total value of C$53,243.94.
RioCan Real Estate Investment Trust Company Profile (Get Rating)
RioCan is one of Canada’s largest real estate investment trusts with a total enterprise value of approximately $13.2 billion as at December 31, 2018. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit- oriented areas where Canadians want to shop, live and work.
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