RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$28.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price hoisted by BMO Capital Markets from C$27.00 to C$28.00 in a report published on Thursday morning, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on REI.UN. Raymond James set a C$27.50 target price on RioCan Real Estate Investment Trust and gave the stock a market perform rating in a report on Thursday. TD Securities increased their price target on RioCan Real Estate Investment Trust from C$29.00 to C$30.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. National Bank Financial set a C$30.00 price target on RioCan Real Estate Investment Trust and gave the stock an outperform rating in a research report on Tuesday, October 29th. CIBC increased their price target on RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a research report on Tuesday, August 6th. Finally, Canaccord Genuity increased their price target on RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. RioCan Real Estate Investment Trust presently has an average rating of Buy and an average target price of C$28.71.

RioCan Real Estate Investment Trust stock opened at C$26.40 on Thursday. The business has a 50 day moving average price of C$26.52 and a two-hundred day moving average price of C$26.35. The company has a quick ratio of 0.14, a current ratio of 0.49 and a debt-to-equity ratio of 80.08. The stock has a market cap of $8.29 billion and a price-to-earnings ratio of 11.14. RioCan Real Estate Investment Trust has a 12 month low of C$23.37 and a 12 month high of C$27.08.

In other RioCan Real Estate Investment Trust news, Senior Officer Jonathan Gitlin purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of C$25.91 per share, for a total transaction of C$77,715.00. Following the transaction, the insider now directly owns 30,942 shares in the company, valued at C$801,552.51.

About RioCan Real Estate Investment Trust

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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Analyst Recommendations for RioCan Real Estate Investment Trust (TSE:REI.UN)

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