RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$29.00 at CIBC

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective raised by equities research analysts at CIBC from C$28.00 to C$29.00 in a research note issued on Tuesday, BayStreet.CA reports. CIBC’s target price indicates a potential upside of 11.45% from the stock’s previous close.

Separately, Raymond James lowered shares of RioCan Real Estate Investment Trust from an “outperform” rating to a “market perform” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. RioCan Real Estate Investment Trust currently has an average rating of “Buy” and an average target price of C$28.00.

Shares of TSE:REI.UN traded down C$0.02 during mid-day trading on Tuesday, reaching C$26.02. 338,337 shares of the company were exchanged, compared to its average volume of 861,509. The company has a debt-to-equity ratio of 77.79, a quick ratio of 0.10 and a current ratio of 0.36. The company has a market cap of $7.92 billion and a price-to-earnings ratio of 13.77. The company has a 50-day moving average price of C$26.30. RioCan Real Estate Investment Trust has a 1 year low of C$23.37 and a 1 year high of C$27.08.

In other RioCan Real Estate Investment Trust news, Senior Officer John Ballantyne sold 12,500 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of C$26.90, for a total transaction of C$336,310.00. Following the sale, the insider now directly owns 2,500 shares in the company, valued at approximately C$67,262. Also, Senior Officer Jonathan Gitlin bought 1,980 shares of RioCan Real Estate Investment Trust stock in a transaction on Friday, June 21st. The shares were acquired at an average price of C$26.67 per share, for a total transaction of C$52,806.60. Following the completion of the acquisition, the insider now owns 26,563 shares in the company, valued at C$708,435.21. Over the last quarter, insiders have sold 239,500 shares of company stock worth $6,350,227.

RioCan Real Estate Investment Trust Company Profile

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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Analyst Recommendations for RioCan Real Estate Investment Trust (TSE:REI.UN)

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