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

Shares of 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$19.10 and traded as high as C$19.57. RioCan Real Estate Investment Trust shares last traded at C$19.54, with a volume of 1,011,401 shares traded.

Wall Street Analyst Weigh In

REI.UN has been the topic of a number of recent research reports. Raymond James Financial lifted their target price on RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the company an “outperform” rating in a research report on Monday, February 23rd. 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 research note on Monday, February 23rd. Finally, National Bank Financial lifted their price objective on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the company an “outperform” rating in a report on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$20.88.

RioCan Real Estate Investment Trust Price Performance

The firm has a market cap of C$5.78 billion, a P/E ratio of 85.52 and a beta of 0.90. 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 firm has a fifty day moving average of C$19.47 and a 200-day moving average of C$19.10.

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

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.