RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$20.17.

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group lowered their price objective on RioCan Real Estate Investment Trust from C$19.50 to C$19.00 and set a “hold” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada lowered their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Desjardins dropped their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. BMO Capital Markets reduced their price objective on shares of 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, March 24th. Finally, TD Securities lowered their target price 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 Monday, March 31st.

Insider Activity

In related news, Director Richard Dansereau bought 4,005 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. 0.31% of the stock is currently owned by corporate insiders.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN opened at C$17.19 on Monday. The business has a 50-day simple moving average of C$17.33 and a two-hundred day simple moving average of C$18.26. RioCan Real Estate Investment Trust has a 12-month low of C$15.46 and a 12-month high of C$20.83. The stock has a market cap of C$5.16 billion, a PE ratio of 85.95 and a beta of 1.31. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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.