RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$19.82 and traded as high as C$22.26. RioCan Real Estate Investment Trust shares last traded at C$22.11, with a volume of 851,186 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on REI.UN. Royal Bank Of Canada raised their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. TD raised their price objective on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Scotia lifted their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. National Bank Financial lifted their price target on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial lifted their price target on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.7%

The firm has a 50-day moving average price of C$20.98 and a 200-day moving average price of C$19.82. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The stock has a market cap of C$6.44 billion, a PE ratio of 26.64 and a beta of 0.94.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported C$0.32 EPS for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.The company had revenue of C$322.31 million during the quarter.

About RioCan Real Estate Investment Trust

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. Riocan’s tenants consist of grocery stores, supermarkets, restaurants, cinemas, pharmacies, and corporates. By geography, the company operates in Canada, which generates the majority of total revenue, and in the United States.