RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Crosses Above 200-Day Moving Average – What’s Next?

RioCan Real Estate Investment Trust (TSE:REI.UN) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$18.40 and traded as high as C$18.79. RioCan Real Estate Investment Trust shares last traded at C$18.73, with a volume of 456,447 shares.

Wall Street Analyst Weigh In

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

RioCan Real Estate Investment Trust Price Performance

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 stock has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 85.14 and a beta of 0.98. The business’s 50 day simple moving average is C$18.70 and its 200-day simple moving average is C$18.40.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported C($0.41) earnings per share for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The business had revenue of C$371.17 million for 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.