RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Cut to C$21.00 by Analysts at TD Securities

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price reduced by TD Securities from C$22.00 to C$21.00 in a research note released on Wednesday morning, BayStreet.CA reports.

Several other equities research analysts have also issued reports on REI.UN. CIBC dropped 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 research note on Thursday, February 15th. BMO Capital Markets boosted their target price on RioCan Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a market perform rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of C$21.21.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$17.54 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.31 and a debt-to-equity ratio of 92.72. The business has a 50-day moving average price of C$18.14 and a two-hundred day moving average price of C$18.07. RioCan Real Estate Investment Trust has a 12-month low of C$16.32 and a 12-month high of C$21.15. The firm has a market cap of C$5.27 billion, a P/E ratio of 134.92 and a beta of 1.26.

Insider Activity

In related news, Director Rocky Kim sold 1,671 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$18.66, for a total transaction of C$31,180.86. 0.26% of the stock is currently owned by corporate insiders.

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.