RioCan Real Estate Investment Trust (TSE:REI.UN – Get Rating) had its price target reduced by analysts at Royal Bank of Canada from C$27.00 to C$26.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 18.34% from the company’s current price.
A number of other analysts also recently commented on the stock. Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust to a “hold” rating and set a C$26.50 price objective for the company. in a report on Wednesday, April 6th. TD Securities increased their objective price on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Thursday, February 24th. BMO Capital Markets increased their price objective on shares of RioCan Real Estate Investment Trust from C$25.75 to C$26.50 in a report on Friday, February 25th. Finally, National Bankshares cut their price target on shares of RioCan Real Estate Investment Trust from C$27.50 to C$27.00 and set an “outperform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, RioCan Real Estate Investment Trust has an average rating of “Buy” and an average price target of C$26.06.
REI.UN stock opened at C$21.97 on Thursday. The company has a market cap of C$6.81 billion and a price-to-earnings ratio of 11.65. The company has a current ratio of 0.61, a quick ratio of 0.16 and a debt-to-equity ratio of 84.33. RioCan Real Estate Investment Trust has a 12 month low of C$20.65 and a 12 month high of C$26.11. The firm has a 50-day moving average of C$24.55 and a two-hundred day moving average of C$23.44.
In related news, Senior Officer Jeffrey Ross sold 6,469 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of C$25.25, for a total transaction of C$163,342.25. Following the completion of the transaction, the insider now owns 69,905 shares of the company’s stock, valued at approximately C$1,765,101.25.
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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