RioCan Real Estate Investment Trust (TSE:REI.UN) Lowered to Hold Rating by Canaccord Genuity Group
Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust (TSE:REI.UN – Free Report) from a buy rating to a hold rating in a report released on Wednesday morning,BayStreet.CA reports. Canaccord Genuity Group currently has C$19.50 target price on the real estate investment trust’s stock, down from their prior target price of C$21.00.
REI.UN has been the topic of several other research reports. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. Scotiabank boosted their target price on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Desjardins cut their price target on 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. Finally, National Bankshares upped their price objective on 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$21.47.
View Our Latest Research Report on RioCan Real Estate Investment Trust
RioCan Real Estate Investment Trust Trading Down 1.1 %
Shares of REI.UN stock opened at C$17.69 on Wednesday. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The stock has a fifty day simple moving average of C$18.74 and a two-hundred day simple moving average of C$19.03. The firm has a market capitalization of C$5.31 billion, a PE ratio of 88.45 and a beta of 1.31. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83.
Insider Activity
In other news, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost 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.
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