RioCan Real Estate Investment Trust (TSE:REI.UN) Given New C$22.25 Price Target at National Bankshares

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price hoisted by equities researchers at National Bankshares from C$22.00 to C$22.25 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. National Bankshares’ price target points to a potential upside of 15.52% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Scotiabank lifted their price target 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 report on Thursday. CIBC lifted their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Finally, BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$21.75.

RioCan Real Estate Investment Trust Stock Performance

Shares of TSE REI.UN traded down C$0.29 during midday trading on Thursday, reaching C$19.26. 585,583 shares of the company were exchanged, compared to its average volume of 601,199. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The stock has a market cap of C$5.78 billion, a P/E ratio of 96.30 and a beta of 1.31. RioCan Real Estate Investment Trust has a 1 year low of C$16.26 and a 1 year high of C$20.83. The stock has a fifty day simple moving average of C$18.49 and a 200 day simple moving average of C$18.86.

Insider Activity

In related news, Senior Officer Jennifer Suess sold 2,104 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total transaction of C$40,018.08. Also, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total transaction of C$75,804.00. 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.