Scotiabank Issues Positive Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective raised by Scotiabank from C$20.75 to C$21.50 in a report published on Thursday morning,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on REI.UN. BMO Capital Markets raised RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. CIBC raised their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.75.

RioCan Real Estate Investment Trust Price Performance

TSE:REI.UN opened at C$19.41 on Thursday. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The stock’s fifty day moving average is C$18.50 and its two-hundred day moving average is C$18.87. The company has a market capitalization of C$5.82 billion, a P/E ratio of 97.05 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.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau acquired 4,005 shares of the stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of C$19.47 per share, with a total value of C$77,977.35. Also, Senior Officer Oliver Harrison sold 4,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total transaction of C$75,804.00. Corporate insiders own 0.31% of the company’s stock.

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.