RioCan Real Estate Investment Trust (OTCMKTS:RIOCF) Receives $25.72 Average PT from Brokerages

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Shares of RioCan Real Estate Investment Trust (OTCMKTS:RIOCFGet Rating) have earned an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $25.72.

Several equities analysts recently weighed in on RIOCF shares. Scotiabank cut their price target on shares of RioCan Real Estate Investment Trust from C$27.00 to C$26.50 in a report on Thursday, May 12th. National Bank Financial decreased their target price on RioCan Real Estate Investment Trust from C$27.00 to C$23.00 in a research report on Wednesday, July 20th. Royal Bank of Canada decreased their price objective on RioCan Real Estate Investment Trust from C$27.00 to C$26.00 in a report on Thursday, May 12th. Finally, Canaccord Genuity Group reduced their price target on RioCan Real Estate Investment Trust from C$25.25 to C$24.75 in a report on Wednesday, May 11th.

RioCan Real Estate Investment Trust Price Performance

RIOCF stock opened at $15.62 on Friday. The firm has a 50-day simple moving average of $16.10 and a two-hundred day simple moving average of $17.90. RioCan Real Estate Investment Trust has a one year low of $14.68 and a one year high of $20.63.

RioCan Real Estate Investment Trust Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, August 8th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.0646 per share. The ex-dividend date is Thursday, July 28th. This represents a yield of 5.1%.

About RioCan Real Estate Investment Trust

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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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