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

RioCan Real Estate Investment Trust (TSE:REI.UN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.17 and traded as high as C$22.98. RioCan Real Estate Investment Trust shares last traded at C$22.61, with a volume of 808,962 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on REI.UN. Raymond James Financial increased their price target on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. BMO Capital Markets raised their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Desjardins lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Scotia boosted their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Stock Up 0.6%

The firm has a market cap of C$6.66 billion, a PE ratio of 27.55 and a beta of 0.94. 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 business has a fifty day moving average price of C$21.87 and a two-hundred day moving average price of C$20.20.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported C$0.32 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$322.31 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. 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.