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

RioCan Real Estate Investment Trust (TSE:REI.UN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.02 and traded as high as C$21.98. RioCan Real Estate Investment Trust shares last traded at C$21.95, with a volume of 739,947 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Raymond James Financial boosted their price target on 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. TD boosted their target price on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Scotia increased their target price on shares of RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a “sector perform” rating in a research report on Thursday. Desjardins upped their target price on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada increased their target price on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$23.81.

RioCan Real Estate Investment Trust Stock Performance

The firm has a market capitalization of C$6.32 billion, a price-to-earnings ratio of 26.18 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$22.59 and its two-hundred day moving average is C$21.03.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share for the quarter. The company had revenue of C$304.36 million during the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

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.