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 cut by analysts at BMO Capital Markets from C$21.50 to C$20.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price would indicate a potential upside of 15.41% from the stock’s previous close.

REI.UN has been the subject of several other research reports. National Bankshares increased their price target 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. Desjardins cut their price objective on 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. Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. Finally, Scotiabank lifted their target price on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$21.36.

RioCan Real Estate Investment Trust Price Performance

RioCan Real Estate Investment Trust stock traded up C$0.11 during midday trading on Monday, reaching C$17.33. The company’s stock had a trading volume of 1,441,464 shares, compared to its average volume of 706,962. 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 current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The stock has a market cap of C$5.20 billion, a PE ratio of 86.65 and a beta of 1.31. The business has a 50-day moving average price of C$18.70 and a 200-day moving average price of C$19.01.

Insider Buying and Selling

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau bought 4,005 shares of the stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of C$19.47 per share, for a total transaction of C$77,977.35. 0.31% of the stock is 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.