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

RioCan Real Estate Investment Trust (TSE:REI.UN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$19.82 and traded as high as C$22.26. RioCan Real Estate Investment Trust shares last traded at C$22.11, with a volume of 851,186 shares traded.

Analyst Upgrades and Downgrades

REI.UN has been the subject of several research analyst reports. Desjardins lifted their price objective on 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. Royal Bank Of Canada lifted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Scotia lifted their price objective on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Raymond James Financial lifted their price objective on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, National Bank Financial lifted their price objective on 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 company. Based on data from MarketBeat, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.7%

The stock has a 50 day simple moving average of C$20.98 and a 200-day simple moving average of C$19.82. The firm has a market capitalization of C$6.44 billion, a P/E ratio of 26.64 and a beta of 0.94. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (EPS) for the quarter. The business had revenue of C$322.31 million during the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.