RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Lowered to C$27.00 at National Bankshares

RioCan Real Estate Investment Trust (TSE:REI.UNGet Rating) had its price target cut by investment analysts at National Bankshares from C$27.50 to C$27.00 in a note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. National Bankshares’ price objective would suggest a potential upside of 22.89% from the stock’s previous close.

A number of other research firms have also recently commented on REI.UN. TD Securities upped their price objective on RioCan Real Estate Investment Trust from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Thursday, February 24th. Canaccord Genuity Group lowered shares of RioCan Real Estate Investment Trust to a “hold” rating and set a C$26.50 price target for the company. in a research report on Wednesday, April 6th. BMO Capital Markets raised their price objective 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 raised shares of RioCan Real Estate Investment Trust from a “sector perform” rating to a “buy” rating and upped their target price for the company from C$24.00 to C$27.00 in a report on Friday, February 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$26.06.

TSE REI.UN opened at C$21.97 on Thursday. The stock has a market capitalization of C$6.81 billion and a price-to-earnings ratio of 11.65. RioCan Real Estate Investment Trust has a 1-year low of C$20.65 and a 1-year high of C$26.11. The company has a debt-to-equity ratio of 84.33, a current ratio of 0.61 and a quick ratio of 0.16. The business’s fifty day moving average price is C$24.55 and its 200-day moving average price is C$23.44.

In other news, Senior Officer Jeffrey Ross sold 6,469 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of C$25.25, for a total transaction of C$163,342.25. Following the sale, the insider now directly owns 69,905 shares in the company, valued at approximately C$1,765,101.25.

About RioCan Real Estate Investment Trust (Get Rating)

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.

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