RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• RioCan shares rose above their 200-day moving average, reaching C$21.44 before last trading at C$21.33, compared with the 200-day average of C$21.21.
• Analyst sentiment is broadly positive: six analysts rate the REIT a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of C$23.81.
• The REIT reported quarterly EPS of C$0.52 on revenue of C$304.36 million, while its financial profile included a 95.37 debt-to-equity ratio, 0.30 current ratio and 0.08 quick ratio.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.21 and traded as high as C$21.44. RioCan Real Estate Investment Trust shares last traded at C$21.33, with a volume of 606,669 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotia lifted their target price on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the company a "sector perform" rating in a research note on Thursday, August 6th. TD increased their price target on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Raymond James Financial raised 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 report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Finally, National Bank Financial upped their price objective 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 two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$23.81.

RioCan Real Estate Investment Trust Stock Down 0.5%

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 firm has a market capitalization of C$6.20 billion, a P/E ratio of 24.80 and a beta of 0.95. The firm's fifty day moving average price is C$22.34 and its 200-day moving average price is C$21.21.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 EPS for the quarter. The firm had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.

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