RioCan Real Estate Investment Trust (TSE:REI.UN) Given Average Rating of “Moderate Buy” by Brokerages

RioCan Real Estate Investment Trust (TSE:REI.UN) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$20.17.

REI.UN has been the topic of a number of research reports. Scotiabank dropped their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a “sector perform” rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada dropped their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. BMO Capital Markets dropped their price target on shares of RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. CIBC lowered their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Desjardins lowered their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$18.02 on Tuesday. The stock’s 50-day moving average is C$17.42 and its two-hundred day moving average is C$17.88. RioCan Real Estate Investment Trust has a fifty-two week low of C$15.46 and a fifty-two week high of C$20.83. The firm has a market cap of C$5.41 billion, a P/E ratio of 90.10 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

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.