RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$20.17.

Several research firms have weighed in on REI.UN. CIBC lowered their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Canaccord Genuity Group reduced their target price on shares of RioCan Real Estate Investment Trust from C$19.50 to C$19.00 and set a "hold" rating on the stock in a research note on Wednesday, May 7th. TD Securities reduced their target price on shares of 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 Monday, March 31st. Royal Bank of Canada reduced their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Finally, Scotiabank reduced their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock traded up C$0.10 during mid-day trading on Monday, reaching C$17.59. 106,092 shares of the stock were exchanged, compared to its average volume of 785,624. The company has a market cap of C$5.28 billion, a price-to-earnings ratio of 87.95 and a beta of 1.31. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The firm has a 50-day simple moving average of C$17.20 and a 200 day simple moving average of C$18.21. RioCan Real Estate Investment Trust has a fifty-two week low of C$15.46 and a fifty-two week high of C$20.83.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other news, Director Richard Dansereau acquired 4,005 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was acquired 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.

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.