Scotiabank Cuts RioCan Real Estate Investment Trust (OTCMKTS:RIOCF) Price Target to C$26.50

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RioCan Real Estate Investment Trust (OTCMKTS:RIOCFGet Rating) had its price objective cut by stock analysts at Scotiabank from C$27.00 to C$26.50 in a research note issued on Thursday, The Fly reports.

A number of other research firms have also weighed in on RIOCF. National Bank Financial decreased their target price on shares of RioCan Real Estate Investment Trust from C$28.00 to C$27.50 in a report on Wednesday, April 27th. CIBC increased their price target on shares of RioCan Real Estate Investment Trust from C$25.00 to C$26.50 in a report on Friday, February 11th. TD Securities increased their price target on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 in a report on Thursday, February 24th. Royal Bank of Canada raised shares of RioCan Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating in a report on Monday, February 14th. Finally, Canaccord Genuity Group decreased their price target on shares of RioCan Real Estate Investment Trust from C$25.25 to C$24.75 in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $26.22.

RioCan Real Estate Investment Trust stock opened at $17.01 on Thursday. The firm’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $18.50. RioCan Real Estate Investment Trust has a 1-year low of $15.84 and a 1-year high of $20.63.

RioCan Real Estate Investment Trust Company Profile (Get Rating)

RioCan is one of Canada’s largest real estate investment trusts. 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. As at September 30, 2020, our portfolio is comprised of 221 properties with an aggregate net leasable area of approximately 38.4 million square feet (at RioCan’s interest) including office, residential rental and 16 development properties.

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