RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.25

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target lifted by National Bankshares from C$22.00 to C$22.25 in a research note published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on the company. Scotiabank increased their price objective on 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. CIBC increased their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Finally, BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the company from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$21.75.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$19.41 on Thursday. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The stock has a fifty day moving average of C$18.50 and a 200-day moving average of C$18.87. The company has a market capitalization of C$5.82 billion, a PE ratio of 97.05 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30.

Insider Activity

In other news, Senior Officer Oliver Harrison sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total value of C$75,804.00. Also, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. Corporate insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Company Profile

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.