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 hoisted by Scotiabank from C$20.75 to C$21.50 in a research note published on Thursday,BayStreet.CA reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on the company. CIBC lifted their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. BMO Capital Markets raised RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price target 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$21.75.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock opened at C$19.41 on Thursday. The firm has a 50 day moving average of C$18.50 and a 200-day moving average of C$18.87. The company has a market cap of C$5.82 billion, a price-to-earnings ratio of 97.05 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. RioCan Real Estate Investment Trust has a 12-month low of C$16.26 and a 12-month high of C$20.83.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau purchased 4,005 shares of RioCan Real Estate Investment Trust stock in a transaction on Thursday, February 20th. The shares were bought at an average price of C$19.47 per share, with a total value of C$77,977.35. Also, 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 value of C$75,804.00. 0.31% of the stock is currently owned by company insiders.

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.