BMO Capital Markets Lowers RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$20.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target lowered by equities research analysts at BMO Capital Markets from C$21.50 to C$20.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price indicates a potential upside of 15.54% from the stock’s current price.

Other analysts have also recently issued reports about the company. National Bankshares raised their target price on RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group lowered shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. Scotiabank boosted their price target on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Finally, Desjardins reduced their price target on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$21.36.

RioCan Real Estate Investment Trust Stock Up 0.5 %

REI.UN stock opened at C$17.31 on Monday. The stock has a 50-day simple moving average of C$18.65 and a two-hundred day simple moving average of C$18.99. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a twelve month low of C$16.26 and a twelve month high of C$20.83. The firm has a market capitalization of C$5.19 billion, a PE ratio of 86.55 and a beta of 1.31.

Insider Buying and Selling

In other news, Director Richard Dansereau acquired 4,005 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. 0.31% of the stock is currently owned by insiders.

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.