RioCan Real Estate Investment Trust (REI.UN) Insider Acquires C$4,521,830.89 in Stock

RioCan Real Estate Investment Trust (TSE:REI.UN) insider RioCan Real Estate Investment Trust acquired 178,116 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were bought at an average cost of C$25.39 per share, with a total value of C$4,521,830.89. Following the completion of the acquisition, the insider now directly owns 178,116 shares of the company’s stock, valued at C$4,521,830.89.

REI.UN opened at C$25.49 on Friday. The company has a debt-to-equity ratio of 78.51, a current ratio of 0.59 and a quick ratio of 0.13. RioCan Real Estate Investment Trust has a twelve month low of C$23.06 and a twelve month high of C$26.67. The company has a market cap of $7.76 billion and a PE ratio of 13.81.

REI.UN has been the subject of several research reports. Raymond James boosted their price objective on shares of RioCan Real Estate Investment Trust from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Thursday, February 14th. CIBC boosted their price objective on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 in a report on Wednesday, February 13th. Royal Bank of Canada boosted their price objective on shares of RioCan Real Estate Investment Trust from C$26.50 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, February 13th. TD Securities boosted their price objective on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Finally, BMO Capital Markets reissued an “outperform” rating and set a C$27.00 price objective on shares of RioCan Real Estate Investment Trust in a report on Monday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. RioCan Real Estate Investment Trust currently has a consensus rating of “Buy” and an average target price of C$27.50.

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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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