RioCan Real Estate Investment Trust (TSE:REI.UN) Cut to Hold at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust (TSE:REI.UN) from a buy rating to a hold rating in a research report report published on Wednesday,BayStreet.CA reports. The brokerage currently has C$19.50 price objective on the real estate investment trust’s stock, down from their previous price objective of C$21.00.

A number of other equities research analysts have also recently issued reports on the stock. Desjardins cut their price objective on shares of RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. National Bankshares upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the company an “outperform” rating in a research note on Thursday, February 20th. BMO Capital Markets raised shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the company from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. Finally, Scotiabank upped their price objective on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$21.47.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$17.22 on Wednesday. The company’s fifty day moving average price is C$18.70 and its 200-day moving average price is C$19.01. The firm has a market capitalization of C$5.17 billion, a price-to-earnings ratio of 86.10 and a beta of 1.31. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. 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 acquired 4,005 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of C$19.47 per share, for a total transaction of C$77,977.35. Company insiders own 0.31% of the company’s stock.

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.