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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$20.17 and traded as high as C$22.98. RioCan Real Estate Investment Trust shares last traded at C$22.61, with a volume of 808,962 shares.

Analysts Set New Price Targets

REI.UN has been the subject of a number of recent analyst reports. TD upped their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Scotia boosted their price objective 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 research note on Wednesday, May 6th. BMO Capital Markets upped their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, Desjardins upped their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Stock Down 0.2%

The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The firm has a market capitalization of C$6.58 billion, a price-to-earnings ratio of 27.24 and a beta of 0.94. The firm has a 50 day moving average price of C$21.82 and a two-hundred day moving average price of C$20.17.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (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$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.