RioCan Real Estate Investment Trust (TSE:REI.UN) Downgraded to “Hold” Rating by Canaccord Genuity Group

RioCan Real Estate Investment Trust (TSE:REI.UN) was downgraded by stock analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$19.50 price target on the real estate investment trust’s stock, down from their previous price target of C$21.00. Canaccord Genuity Group’s target price points to a potential upside of 10.86% from the company’s previous close.

A number of other equities analysts have also recently issued reports on REI.UN. National Bankshares boosted their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Scotiabank boosted their price objective on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Desjardins decreased their price objective on shares of RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus target price of C$21.47.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$17.59 on Wednesday. The stock has a market cap of C$5.28 billion, a PE ratio of 87.95 and a beta of 1.31. The company’s fifty day moving average is C$18.72 and its 200 day moving average is C$19.02. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

Insider Activity

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau acquired 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of C$19.47 per share, with a total value of C$77,977.35. Insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Company Profile

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.