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Scotiabank downgraded shares of RioCan Real Estate Investment Trust (TSE:REI.UN – Free Report) from an outperform rating to a sector perform rating in a research note published on Tuesday, BayStreet.CA reports. The brokerage currently has C$20.50 target price on the real estate investment trust’s stock, down from their prior target price of C$22.50.
Several other brokerages also recently weighed in on REI.UN. CIBC cut their price target on 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 Thursday, February 15th. National Bankshares reduced their target price on RioCan Real Estate Investment Trust from C$21.00 to C$20.50 and set an outperform rating on the stock in a research report on Wednesday, April 24th. TD Securities lowered their price target on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 in a report on Wednesday, April 24th. Finally, BMO Capital Markets increased their price objective on shares of 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of C$20.86.
Check Out Our Latest Report on REI.UN
RioCan Real Estate Investment Trust Trading Down 1.1 %
Shares of REI.UN opened at C$17.54 on Tuesday. RioCan Real Estate Investment Trust has a 1-year low of C$16.32 and a 1-year high of C$20.70. The company has a debt-to-equity ratio of 93.59, a current ratio of 0.96 and a quick ratio of 0.08. The firm has a 50 day simple moving average of C$17.98 and a 200-day simple moving average of C$18.10. The stock has a market cap of C$5.27 billion, a price-to-earnings ratio of 103.18 and a beta of 1.26.
Insider Buying and Selling
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 value of C$31,180.86. Insiders own 0.26% of the company’s stock.
About RioCan Real Estate Investment Trust
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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