RioCan Real Estate Investment Trust (TSE:REI.UN) Lowered to Hold Rating by Canaccord Genuity Group

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

Several other brokerages also recently weighed in on REI.UN. National Bankshares increased their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the stock an “outperform” rating in a report on Thursday, February 20th. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. Scotiabank upped their price objective on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Finally, Desjardins lowered their price objective on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$21.47.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$17.22 on Wednesday. RioCan Real Estate Investment Trust has a twelve month low of C$16.26 and a twelve month high of C$20.83. The company’s 50 day moving average is C$18.70 and its 200 day moving average is C$19.01. 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 company has a market cap of C$5.17 billion, a PE ratio of 86.10 and a beta of 1.31.

Insiders Place Their Bets

In other news, Director Richard Dansereau bought 4,005 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of C$19.47 per share, with a total value of C$77,977.35. 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.