RioCan Real Estate Investment Trust (TSE:REI.UN)‘s stock had its “outperform” rating reaffirmed by equities researchers at National Bank Financial in a research report issued on Friday, BayStreet.CA reports. They currently have a C$30.00 target price on the real estate investment trust’s stock. National Bank Financial’s price objective indicates a potential upside of 12.87% from the company’s previous close.
Several other equities research analysts have also commented on REI.UN. Canaccord Genuity boosted their price target on shares of RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a report on Wednesday, September 4th. TD Securities boosted their price target on shares of RioCan Real Estate Investment Trust from C$29.00 to C$30.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. CIBC lifted their price objective on shares of RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a research report on Tuesday, August 6th. Finally, Raymond James reaffirmed a “market perform” rating on shares of RioCan Real Estate Investment Trust in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$28.43.
RioCan Real Estate Investment Trust stock opened at C$26.58 on Friday. The firm has a 50-day moving average price of C$26.42 and a 200-day moving average price of C$26.32. The firm has a market capitalization of $8.10 billion and a PE ratio of 11.22. The company has a current ratio of 0.49, a quick ratio of 0.14 and a debt-to-equity ratio of 80.08. RioCan Real Estate Investment Trust has a 12-month low of C$23.37 and a 12-month high of C$27.08.
In related news, Senior Officer Jonathan Gitlin bought 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of C$25.91 per share, with a total value of C$77,715.00. Following the transaction, the insider now owns 30,942 shares in the company, valued at C$801,552.51.
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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