RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Passes Above Two Hundred 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 Wednesday . The stock has a two hundred day moving average of C$18.21 and traded as high as C$18.98. RioCan Real Estate Investment Trust shares last traded at C$18.93, with a volume of 303,045 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. National Bankshares lifted their price objective on RioCan Real Estate Investment Trust from C$19.75 to C$21.50 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. BMO Capital Markets boosted their target price on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research note on Wednesday, November 19th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$20.61.

RioCan Real Estate Investment Trust Stock Up 0.2%

The firm’s 50-day simple moving average is C$18.91 and its 200 day simple moving average is C$18.21. 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 company has a market cap of C$5.58 billion, a P/E ratio of 86.05 and a beta of 1.03.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported C($0.41) 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 company had revenue of C$371.17 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.