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

RioCan Real Estate Investment Trust (TSE:REI.UN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$20.92 and traded as high as C$22.79. RioCan Real Estate Investment Trust shares last traded at C$22.70, with a volume of 971,235 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on REI.UN. National Bank Financial raised 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. Raymond James Financial increased their target price on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Scotia increased 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 research report on Wednesday, May 6th. Finally, Desjardins increased 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. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$23.68.

RioCan Real Estate Investment Trust Stock Performance

The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The stock has a 50-day moving average price of C$22.60 and a 200 day moving average price of C$20.94. The company has a market cap of C$6.51 billion, a price-to-earnings ratio of 26.93 and a beta of 0.95.

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 return on equity of 0.78% and a net margin of 4.86%.The business had revenue of C$322.31 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. 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.