National Bankshares 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 price objective reduced by equities researchers at National Bankshares from C$21.00 to C$20.50 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. National Bankshares’ target price suggests a potential upside of 15.69% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. CIBC dropped their target price on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. TD Securities cut their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 in a research report on Wednesday. Finally, BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$21.21.

RioCan Real Estate Investment Trust Stock Down 0.6 %

REI.UN traded down C$0.11 during midday trading on Wednesday, reaching C$17.72. The company’s stock had a trading volume of 217,793 shares, compared to its average volume of 790,042. RioCan Real Estate Investment Trust has a 1 year low of C$16.32 and a 1 year high of C$21.38. The stock’s 50-day moving average is C$18.20 and its 200-day moving average is C$18.08. The firm has a market capitalization of C$5.32 billion, a price-to-earnings ratio of 136.38 and a beta of 1.26. The company has a current ratio of 0.31, a quick ratio of 0.08 and a debt-to-equity ratio of 92.72.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other news, Director Rocky Kim sold 1,671 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$18.66, for a total transaction of C$31,180.86. 0.26% of the stock is owned by company insiders.

RioCan Real Estate Investment Trust Company Profile

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.