RioCan Real Estate Investment Trust (TSE:REI.UN) Downgraded by National Bankshares to “Sector Perform”

National Bankshares lowered shares of RioCan Real Estate Investment Trust (TSE:REI.UN) from an outperform rating to a sector perform rating in a research report sent to investors on Monday morning,BayStreet.CA reports. They currently have C$18.00 target price on the real estate investment trust’s stock, down from their prior target price of C$22.25.

Several other research firms have also issued reports on REI.UN. Canaccord Genuity Group lowered shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$21.00 to C$19.50 in a report on Wednesday, March 19th. Royal Bank of Canada dropped their target price 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 report on Monday, March 24th. BMO Capital Markets decreased their price target on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Desjardins cut their target price 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. Finally, TD Securities lowered their target price on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a report on Monday, March 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RioCan Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$20.78.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$16.82 on Monday. The firm has a market cap of C$5.05 billion, a PE ratio of 84.10 and a beta of 1.31. RioCan Real Estate Investment Trust has a 52 week low of C$15.46 and a 52 week high of C$20.83. The firm’s fifty day moving average is C$18.04 and its 200-day moving average is C$18.63. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30.

Insiders Place Their Bets

In other news, Director Richard Dansereau acquired 4,005 shares of RioCan Real Estate Investment Trust stock in a transaction on Thursday, February 20th. The stock was acquired 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.

RioCan Real Estate Investment Trust Company Profile

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.