TD Securities Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$21.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective reduced by investment analysts at TD Securities from C$22.00 to C$21.00 in a report released on Wednesday, BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 18.51% from the stock’s current price.

REI.UN has been the topic of several other research reports. CIBC lowered their price target 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 report on Thursday, February 15th. BMO Capital Markets upped their target price on shares of RioCan Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.21.

RioCan Real Estate Investment Trust Stock Performance

TSE REI.UN traded down C$0.11 on Wednesday, hitting C$17.72. 217,793 shares of the company traded hands, compared to its average volume of 790,042. The company has a current ratio of 0.31, a quick ratio of 0.08 and a debt-to-equity ratio of 92.72. The business’s 50 day moving average price is C$18.20 and its 200-day moving average price is C$18.08. The company has a market capitalization of C$5.32 billion, a price-to-earnings ratio of 136.31 and a beta of 1.26. RioCan Real Estate Investment Trust has a 52-week low of C$16.32 and a 52-week high of C$21.38.

Insiders Place Their Bets

In other news, Director Rocky Kim sold 1,671 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$18.66, for a total transaction of C$31,180.86. Corporate insiders own 0.26% of the company’s stock.

About RioCan Real Estate Investment Trust

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.