RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.25 at National Bankshares

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective lifted by National Bankshares from C$22.00 to C$22.25 in a research report released on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on REI.UN. BMO Capital Markets raised RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price target for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. Scotiabank raised their target price on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research note on Thursday. Finally, CIBC boosted their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$21.75.

RioCan Real Estate Investment Trust Stock Performance

Shares of TSE REI.UN opened at C$19.41 on Thursday. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The firm’s 50-day moving average price is C$18.50 and its two-hundred day moving average price is C$18.87. 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 has a market capitalization of C$5.82 billion, a P/E ratio of 97.05 and a beta of 1.31.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other news, Director Richard Dansereau purchased 4,005 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased 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 RioCan Real Estate Investment Trust stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total value of C$75,804.00. 0.31% of the stock is owned by company 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.