CIBC Boosts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$29.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target boosted by CIBC from C$29.00 to C$29.50 in a report issued on Thursday, BayStreet.CA reports.

A number of other analysts have also recently weighed in on REI.UN. National Bank Financial set a C$30.00 target price on shares of RioCan Real Estate Investment Trust and gave the stock an outperform rating in a research note on Tuesday, October 29th. Canaccord Genuity boosted their price objective on shares of RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a research note on Wednesday, September 4th. Raymond James set a C$27.50 price objective on shares of RioCan Real Estate Investment Trust and gave the stock a market perform rating in a research note on Thursday. TD Securities boosted their price objective on shares of RioCan Real Estate Investment Trust from C$29.00 to C$30.00 and gave the stock a buy rating in a research note on Tuesday, August 6th. Finally, BMO Capital Markets boosted their price objective on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 in a research note on Thursday. Two equities research 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 currently has an average rating of Buy and an average target price of C$28.79.

Shares of TSE REI.UN traded down C$0.13 during midday trading on Thursday, reaching C$26.27. 493,147 shares of the company were exchanged, compared to its average volume of 861,509. The stock’s 50-day moving average price is C$26.51 and its 200-day moving average price is C$26.35. The stock has a market cap of $8.24 billion and a P/E ratio of 11.08. RioCan Real Estate Investment Trust has a one year low of C$23.37 and a one year high of C$27.08. The company has a quick ratio of 0.14, a current ratio of 0.49 and a debt-to-equity ratio of 80.08.

In related news, Senior Officer Jonathan Gitlin acquired 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of C$25.91 per share, for a total transaction of C$77,715.00. Following the completion of the acquisition, the insider now owns 30,942 shares of the company’s stock, 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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