RioCan Real Estate Investment Trust (TSE:REI.UN) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

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$20.76 and traded as high as C$23.23. RioCan Real Estate Investment Trust shares last traded at C$22.98, with a volume of 412,270 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on REI.UN. Desjardins increased their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. TD boosted their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BMO Capital Markets upped their target price 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. Scotia raised 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. Finally, National Bank Financial lifted their price target on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, RioCan Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.68.

RioCan Real Estate Investment Trust Stock Down 0.7%

The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The stock has a market cap of C$6.69 billion, a price-to-earnings ratio of 27.69 and a beta of 0.95. The firm’s 50-day moving average is C$22.42 and its 200 day moving average is C$20.76.

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 for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The company had revenue of C$322.31 million for 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.