RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Lowered to C$21.00 at Royal Bank of Canada

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its price target lowered by equities researchers at Royal Bank of Canada from C$22.00 to C$21.00 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. Royal Bank of Canada's target price would indicate a potential upside of 22.59% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets lowered their target price on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an "outperform" rating on the stock in a research note on Monday. National Bankshares increased their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the company an "outperform" rating in a report on Thursday, February 20th. Canaccord Genuity Group cut RioCan Real Estate Investment Trust from a "buy" rating to a "hold" rating and lowered their price objective for the company from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. Scotiabank increased their target price on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Finally, Desjardins cut 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 report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$21.36.

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RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN traded down C$0.11 on Monday, reaching C$17.13. 385,023 shares of the company's stock traded hands, compared to its average volume of 748,234. The stock's 50 day simple moving average is C$18.60 and its two-hundred day simple moving average is C$18.96. The stock has a market cap of C$5.14 billion, a PE ratio of 85.65 and a beta of 1.31. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. 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 other news, Director Richard Dansereau acquired 4,005 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was acquired 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.

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.