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 price target raised by research analysts at Scotiabank from C$20.75 to C$21.50 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 11.63% from the company’s current price.

Several other brokerages have also issued reports on REI.UN. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. CIBC boosted their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, RioCan Real Estate Investment Trust 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 RioCan Real Estate Investment Trust stock traded down C$0.29 during trading on Thursday, hitting C$19.26. 585,583 shares of the company were exchanged, compared to its average volume of 601,199. The firm has a market capitalization 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 1-year low of C$16.26 and a 1-year high of C$20.83. The firm’s fifty day moving average price is C$18.49 and its 200 day moving average price is C$18.86. 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 Buying and Selling at RioCan Real Estate Investment Trust

In other news, Director Richard Dansereau bought 4,005 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of C$19.47 per share, for a total transaction of C$77,977.35. Also, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total value of C$75,804.00. 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.