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

RioCan Real Estate Investment Trust (TSE:REI.UN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$21.13 and traded as high as C$21.67. RioCan Real Estate Investment Trust shares last traded at C$21.50, with a volume of 453,567 shares traded.

Analyst Ratings Changes

REI.UN has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the company a “hold” rating in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotia increased their price target 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 note on Thursday, August 6th. BMO Capital Markets raised their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Desjardins upped their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$23.81.

RioCan Real Estate Investment Trust Price Performance

The stock has a 50 day moving average of C$22.48 and a two-hundred day moving average of C$21.14. 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 firm has a market capitalization of C$6.22 billion, a P/E ratio of 24.91 and a beta of 0.95.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 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$304.36 million during 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.