Scotiabank Issues Positive Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price upped by research analysts at Scotiabank from C$20.75 to C$21.50 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 11.63% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. CIBC boosted their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$21.75.

RioCan Real Estate Investment Trust Trading Down 1.5 %

Shares of TSE:REI.UN traded down C$0.29 during trading on Thursday, reaching C$19.26. The stock had a trading volume of 585,583 shares, compared to its average volume of 601,199. The business has a fifty day moving average price of C$18.49 and a 200-day moving average price of C$18.86. 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 stock has a market cap of C$5.78 billion, a P/E ratio of 96.30 and a beta of 1.31. RioCan Real Estate Investment Trust has a fifty-two week low of C$16.26 and a fifty-two week high of C$20.83.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other RioCan Real Estate Investment Trust news, 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 transaction of C$75,804.00. Also, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total value of C$40,018.08. Corporate insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Company Profile

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.