RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Passes Above 200 Day Moving Average – Time to Sell?

RioCan Real Estate Investment Trust (TSE:REI.UN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$20.40 and traded as high as C$22.87. RioCan Real Estate Investment Trust shares last traded at C$22.84, with a volume of 735,299 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on REI.UN. Royal Bank Of Canada boosted their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Desjardins raised their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Scotia lifted their price target on shares of 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. BMO Capital Markets raised their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial boosted 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 report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.0%

The firm has a market capitalization of C$6.65 billion, a PE ratio of 27.53 and a beta of 0.95. The stock’s 50-day moving average price is C$22.13 and its 200 day moving average price is C$20.42. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its quarterly 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 firm had revenue of C$322.31 million during the quarter.

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.