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

RioCan Real Estate Investment Trust (TSE:REI.UN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$19.06 and traded as high as C$19.62. RioCan Real Estate Investment Trust shares last traded at C$19.48, with a volume of 626,269 shares traded.

Analyst Upgrades and Downgrades

REI.UN has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. BMO Capital Markets upped their target price on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research report on Wednesday, November 19th. Raymond James Financial raised their target price on RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Finally, National Bank Financial lifted their price target on RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$21.00.

RioCan Real Estate Investment Trust Price Performance

The stock has a market cap of C$5.72 billion, a price-to-earnings ratio of 84.65 and a beta of 0.90. The stock’s 50 day moving average price is C$19.62 and its two-hundred day moving average price is C$19.07. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share for the quarter. The company had revenue of C$347.92 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.