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

RioCan Real Estate Investment Trust (TSE:REI.UN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$20.40 and traded as high as C$22.87. RioCan Real Estate Investment Trust shares last traded at C$22.84, with a volume of 735,299 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on REI.UN. Raymond James Financial upped their target price on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. BMO Capital Markets lifted their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Desjardins boosted 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. TD upped their price objective 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 note on Wednesday, May 6th. Finally, National Bank Financial raised their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a 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, RioCan Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Price Performance

The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The stock’s 50-day moving average price is C$22.09 and its 200-day moving average price is C$20.40. The company has a market capitalization of C$6.65 billion, a price-to-earnings ratio of 27.52 and a beta of 0.94.

RioCan Real Estate Investment Trust (TSE:REI.UN) last issued its quarterly earnings results 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 business 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.