Scotiabank Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$20.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price dropped by Scotiabank from C$21.50 to C$20.50 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 20.38% from the stock’s current price.

REI.UN has been the subject of a number of other research reports. National Bankshares lowered shares of RioCan Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$22.25 to C$18.00 in a research report on Monday, April 14th. BMO Capital Markets reduced their price objective 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 report on Monday, March 24th. TD Securities cut their target price on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Royal Bank of Canada decreased their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, Desjardins dropped 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 note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$20.17.

RioCan Real Estate Investment Trust Trading Down 0.1 %

Shares of RioCan Real Estate Investment Trust stock opened at C$17.03 on Wednesday. The company has a market cap of C$5.11 billion, a price-to-earnings ratio of 85.15 and a beta of 1.31. RioCan Real Estate Investment Trust has a 1 year low of C$15.46 and a 1 year high of C$20.83. The company’s fifty day simple moving average is C$17.37 and its 200-day simple moving average is C$18.30. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37.

Insider Transactions at RioCan Real Estate Investment Trust

In related news, Director Richard Dansereau purchased 4,005 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of C$19.47 per share, with a total value of C$77,977.35. Company 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.