RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) was downgraded by equities research analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a report released on Tuesday, BayStreet.CA reports. They presently have a C$20.50 price objective on the real estate investment trust's stock, down from their prior price objective of C$22.50. Scotiabank's price objective would suggest a potential upside of 16.88% from the company's current price.
Other analysts have also issued reports about the company. TD Securities lowered their target price on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 in a research note on Wednesday, April 24th. National Bankshares reduced their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$20.50 and set an "outperform" rating for the company in a research note on Wednesday, April 24th. CIBC cut their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an "outperform" rating for the company in a report on Thursday, February 15th. Finally, BMO Capital Markets boosted their target price on shares of RioCan Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a "market perform" rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, RioCan Real Estate Investment Trust presently has an average rating of "Moderate Buy" and a consensus price target of C$20.86.
Check Out Our Latest Research Report on RioCan Real Estate Investment Trust
RioCan Real Estate Investment Trust Stock Performance
TSE:REI.UN traded down C$0.19 during trading on Tuesday, reaching C$17.54. The company's stock had a trading volume of 645,538 shares, compared to its average volume of 786,030. The firm has a 50 day moving average of C$17.99 and a 200-day moving average of C$18.09. The company has a debt-to-equity ratio of 93.59, a quick ratio of 0.08 and a current ratio of 0.96. The firm has a market cap of C$5.27 billion, a price-to-earnings ratio of 102.76 and a beta of 1.26. RioCan Real Estate Investment Trust has a 12 month low of C$16.32 and a 12 month high of C$20.70.
Insiders Place Their Bets
In other RioCan Real Estate Investment Trust news, Director Rocky Kim sold 1,699 shares of RioCan Real Estate Investment Trust stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$18.46, for a total transaction of C$31,363.54. Corporate insiders own 0.26% of the company's stock.
About RioCan Real Estate Investment Trust
(
Get Free Report)
RioCan is one of Canada's largest real estate investment trusts with a total enterprise value of approximately $13.2 billion as at December 31, 2018. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work.
Featured Articles
Before you consider RioCan Real Estate Investment Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RioCan Real Estate Investment Trust wasn't on the list.
While RioCan Real Estate Investment Trust currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for June 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
