RioCan Real Estate Investment Trust (TSE:REI.UN) Downgraded to “Hold” Rating by Canaccord Genuity Group

RioCan Real Estate Investment Trust (TSE:REI.UN) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday,BayStreet.CA reports. They presently have a C$19.50 price target on the real estate investment trust’s stock, down from their previous price target of C$21.00. Canaccord Genuity Group’s price target would suggest a potential upside of 12.00% from the company’s current price.

Other research analysts also recently issued reports about the stock. 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 report on Thursday, February 20th. National Bankshares upped their price target 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 report on Thursday, February 20th. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. Finally, Desjardins lowered their price target on shares of 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$21.47.

RioCan Real Estate Investment Trust Price Performance

REI.UN traded down C$0.47 during trading on Wednesday, hitting C$17.41. 1,006,336 shares of the stock traded hands, compared to its average volume of 651,122. RioCan Real Estate Investment Trust has a twelve month low of C$16.26 and a twelve month high of C$20.83. The company has a market cap of C$5.22 billion, a price-to-earnings ratio of 87.05 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The business has a 50 day moving average price of C$18.76 and a 200 day moving average price of C$19.04.

Insider Activity

In related news, Director Richard Dansereau bought 4,005 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. Company insiders own 0.31% of the company’s stock.

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.