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

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price trimmed by BMO Capital Markets from C$21.50 to C$20.00 in a report published on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on REI.UN. Desjardins dropped 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 note on Thursday, February 20th. 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 report on Thursday, February 20th. Scotiabank lifted their price objective on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group lowered shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$21.36.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN stock opened at C$17.10 on Monday. The company has a market capitalization of C$5.13 billion, a P/E ratio of 85.50 and a beta of 1.31. The company’s 50-day simple moving average is C$18.62 and its two-hundred day simple moving average is C$18.98. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

Insider Activity at RioCan Real Estate Investment Trust

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