RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

RioCan Real Estate Investment Trust (TSE:REI.UN) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$18.31 and traded as high as C$18.49. RioCan Real Estate Investment Trust shares last traded at C$18.41, with a volume of 950,901 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on REI.UN. National Bankshares increased their price target on RioCan Real Estate Investment Trust from C$19.75 to C$21.50 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research note on Wednesday, November 19th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$20.61.

RioCan Real Estate Investment Trust Stock Up 0.8%

The firm’s fifty day moving average price is C$18.77 and its two-hundred day moving average price is C$18.31. The stock has a market cap of C$5.43 billion, a price-to-earnings ratio of 83.68 and a beta of 0.98. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

RioCan Real Estate Investment Trust (TSE:REI.UN) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported C($0.41) EPS for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The firm had revenue of C$371.17 million during the quarter.

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.