Desjardins Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$20.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price reduced by Desjardins from C$22.00 to C$20.00 in a report released on Wednesday,BayStreet.CA reports. Desjardins currently has a buy rating on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on REI.UN. TD Securities cut their price objective on shares of RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Royal Bank of Canada cut their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Monday, March 24th. National Bankshares cut RioCan Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$22.25 to C$18.00 in a report on Monday, April 14th. BMO Capital Markets cut their target price on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Finally, Scotiabank decreased their price target on RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a “sector perform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of C$20.17.

RioCan Real Estate Investment Trust Stock Up 0.9 %

Shares of TSE:REI.UN opened at C$17.19 on Wednesday. RioCan Real Estate Investment Trust has a 52-week low of C$15.46 and a 52-week high of C$20.83. The stock has a market cap of C$5.16 billion, a P/E ratio of 85.95 and a beta of 1.31. The business has a fifty day moving average of C$17.33 and a two-hundred day moving average of C$18.28. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

Insider Activity

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau bought 4,005 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of C$19.47 per share, with a total value of C$77,977.35. Insiders own 0.31% of the company’s stock.

About RioCan Real Estate Investment Trust

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada’s portfolio of retail-focused, increasingly mixed-use properties. The REIT’s property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada.