National Bank Financial Lowers RioCan Real Estate Investment Trust (OTCMKTS:RIOCF) Price Target to C$27.50

RioCan Real Estate Investment Trust (OTCMKTS:RIOCFGet Rating) had its price objective reduced by National Bank Financial from C$28.00 to C$27.50 in a research report released on Wednesday, The Fly reports.

Several other brokerages also recently commented on RIOCF. Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a buy rating to a hold rating and set a C$26.50 target price on the stock. in a report on Wednesday, April 6th. CIBC raised their target price on shares of RioCan Real Estate Investment Trust from C$25.00 to C$26.50 in a report on Friday, February 11th. Scotiabank raised their target price on shares of RioCan Real Estate Investment Trust from C$25.50 to C$27.00 in a report on Tuesday, February 15th. BMO Capital Markets raised their target price on shares of RioCan Real Estate Investment Trust from C$25.75 to C$26.50 in a report on Friday, February 25th. Finally, Royal Bank of Canada upgraded shares of RioCan Real Estate Investment Trust from a sector perform rating to an outperform rating in a report on Monday, February 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust currently has an average rating of Buy and an average target price of $26.31.

RioCan Real Estate Investment Trust stock opened at $19.00 on Wednesday. The company’s 50 day simple moving average is $19.87 and its 200 day simple moving average is $18.56. RioCan Real Estate Investment Trust has a fifty-two week low of $15.84 and a fifty-two week high of $20.63.

The firm also recently disclosed a dividend, which will be paid on Friday, May 6th. Stockholders of record on Friday, April 29th will be issued a $0.0673 dividend. The ex-dividend date of this dividend is Thursday, April 28th. This is an increase from RioCan Real Estate Investment Trust’s previous dividend of $0.07. This represents a dividend yield of 4.09%.

RioCan Real Estate Investment Trust Company Profile (Get Rating)

RioCan is one of Canada's largest real estate investment trusts. 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. As at September 30, 2020, our portfolio is comprised of 221 properties with an aggregate net leasable area of approximately 38.4 million square feet (at RioCan's interest) including office, residential rental and 16 development properties.

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