RioCan Real Estate Investment Trust (OTCMKTS:RIOCF) Short Interest Up 50.9% in August

RioCan Real Estate Investment Trust (OTCMKTS:RIOCF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,465,300 shares, a growth of 50.9% from the August 15th total of 1,633,800 shares. Based on an average trading volume of 19,300 shares, the short-interest ratio is presently 127.7 days.

RIOCF has been the topic of a number of research analyst reports. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $21.00 to $17.84 in a research note on Monday, July 26th. Royal Bank of Canada upped their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 11th. National Bank Financial upped their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Monday, July 19th. Finally, Canaccord Genuity upped their price target on shares of RioCan Real Estate Investment Trust from C$20.75 to C$23.00 and gave the stock a “hold” rating in a research report on Friday, August 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, RioCan Real Estate Investment Trust presently has a consensus rating of “Buy” and a consensus price target of $22.81.

Shares of RIOCF traded down $0.08 during mid-day trading on Friday, hitting $17.73. The company’s stock had a trading volume of 9,516 shares, compared to its average volume of 16,417. The company’s 50-day moving average is $17.81 and its 200-day moving average is $17.16. RioCan Real Estate Investment Trust has a 52-week low of $10.17 and a 52-week high of $19.17.

The firm also recently declared a dividend, which will be paid on Thursday, October 7th. Stockholders of record on Wednesday, September 29th will be given a $0.7599 dividend. The ex-dividend date of this dividend is Tuesday, September 28th. This represents a dividend yield of 4.27%.

RioCan Real Estate Investment Trust Company Profile

RioCan Real Estate Investment Trust engages in owning, development, management, and operation of shopping centers. Its property portfolio includes grocery anchored, new format retail, urban retail, mixed-use and non-grocery anchored centers. The company was founded by Edward Sonshine on July 10, 1981 and is headquartered in Toronto, Canada.

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