Insider Selling: RioCan Real Estate Investment Trust (REI.UN) Senior Officer Sells 52,000 Shares of Stock

RioCan Real Estate Investment Trust (TSE:REI.UN) Senior Officer Jonathan Gitlin sold 52,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of C$26.29, for a total transaction of C$1,367,262.00. Following the completion of the sale, the insider now owns 22,143 shares in the company, valued at C$582,216.97.

Shares of TSE REI.UN opened at C$26.30 on Friday. RioCan Real Estate Investment Trust has a 1 year low of C$23.06 and a 1 year high of C$26.67. The company has a market cap of $8.01 billion and a P/E ratio of 14.25. The company has a current ratio of 0.59, a quick ratio of 0.13 and a debt-to-equity ratio of 78.51.

Several analysts have recently commented on REI.UN shares. BMO Capital Markets reiterated an “outperform” rating and issued a C$27.00 price target on shares of RioCan Real Estate Investment Trust in a research report on Monday, February 11th. Royal Bank of Canada raised their target price on shares of RioCan Real Estate Investment Trust from C$26.50 to C$27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 13th. CIBC raised their target price on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 in a research report on Wednesday, February 13th. TD Securities raised their target price on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Finally, Raymond James raised their target price on shares of RioCan Real Estate Investment Trust from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Thursday, February 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of C$27.50.

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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.

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