RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Crosses Above 200 Day Moving Average – Here’s Why

RioCan Real Estate Investment Trust (TSE:REI.UN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$20.57 and traded as high as C$22.75. RioCan Real Estate Investment Trust shares last traded at C$22.50, with a volume of 463,554 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on REI.UN. Scotia lifted their price objective on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. National Bank Financial increased their price target 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 research report on Wednesday, May 6th. Desjardins lifted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a report 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 company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Trading Down 0.7%

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 stock has a market cap of C$6.55 billion, a P/E ratio of 27.11 and a beta of 0.95. The business’s fifty day simple moving average is C$22.29 and its 200 day simple moving average is C$20.57.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced 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 company had revenue of C$322.31 million for 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.