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

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.76 and traded as high as C$23.23. RioCan Real Estate Investment Trust shares last traded at C$22.98, with a volume of 412,270 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. National Bank Financial lifted their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Scotia raised their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Desjardins lifted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial lifted their price target on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Stock Performance

The firm has a market capitalization of C$6.69 billion, a price-to-earnings ratio of 27.69 and a beta of 0.95. 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’s fifty day moving average is C$22.42 and its two-hundred day moving average is C$20.76.

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