Insider Selling: RioCan Real Estate Investment Trust (TSE:REI.UN) Senior Officer Sells 4,000 Shares of Stock

RioCan Real Estate Investment Trust (TSE:REI.UN) Senior Officer Oliver Harrison sold 4,000 shares of RioCan Real Estate Investment Trust stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00.

RioCan Real Estate Investment Trust Trading Down 0.4 %

Shares of RioCan Real Estate Investment Trust stock traded down C$0.08 during trading on Wednesday, hitting C$18.56. The stock had a trading volume of 709,066 shares, compared to its average volume of 801,044. RioCan Real Estate Investment Trust has a 12 month low of C$16.26 and a 12 month high of C$20.83. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The firm’s fifty day simple moving average is C$19.08 and its 200-day simple moving average is C$18.44. The stock has a market cap of C$5.57 billion, a PE ratio of 92.80 and a beta of 1.31.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. National Bankshares lifted their price objective on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th. CIBC upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. Canaccord Genuity Group lifted their price objective on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. TD Securities upped their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Finally, BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from C$21.00 to C$20.50 in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average price target of C$21.67.

About RioCan Real Estate Investment Trust

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 December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.