RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Lowered to C$20.00 at BMO Capital Markets

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target reduced by stock analysts at BMO Capital Markets from C$21.50 to C$20.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential upside of 15.41% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Desjardins reduced 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 Thursday, February 20th. National Bankshares lifted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Scotiabank upped their price target on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group cut shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from C$21.00 to C$19.50 in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$21.36.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock traded up C$0.11 during midday trading on Monday, reaching C$17.33. 1,441,464 shares of the stock were exchanged, compared to its average volume of 706,962. The company has a fifty day moving average price of C$18.70 and a 200 day moving average price of C$19.01. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The stock has a market capitalization of C$5.20 billion, a PE ratio of 86.65 and a beta of 1.31.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau acquired 4,005 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of C$19.47 per share, for a total transaction 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.