RioCan Real Estate Investment Trust (TSE:REI.UN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

RioCan Real Estate Investment Trust (TSE:REI.UN) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$21.36.

Several equities research analysts recently weighed in on the stock. National Bankshares increased their price objective on shares of 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 downgraded RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from C$21.00 to C$19.50 in a report on Wednesday, March 19th. BMO Capital Markets lowered their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a research note on Monday. Desjardins cut their target price 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 note on Thursday, February 20th. Finally, Scotiabank upped their price target on shares of 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.

Insider Activity

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

RioCan Real Estate Investment Trust Stock Up 0.8 %

Shares of TSE:REI.UN opened at C$17.24 on Friday. The company’s fifty day moving average is C$18.60 and its two-hundred day moving average is C$18.96. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a 1-year low of C$16.26 and a 1-year high of C$20.83. The stock has a market capitalization of C$5.17 billion, a price-to-earnings ratio of 86.20 and a beta of 1.31.

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.