RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• RioCan Real Estate Investment Trust shares crossed above their two hundred day moving average of C$17.73, trading at a high of C$18.39.
• Analysts have mixed forecasts, with target prices ranging from C$19.00 to C$20.50, and an average rating of "Moderate Buy."
• The company has a market capitalization of C$5.51 billion and operates primarily in the retail-focused real estate sector in Canada.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.73 and traded as high as C$18.39. RioCan Real Estate Investment Trust shares last traded at C$18.38, with a volume of 466,415 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REI.UN. Canaccord Genuity Group dropped their target price on shares of RioCan Real Estate Investment Trust from C$19.50 to C$19.00 and set a "hold" rating on the stock in a research report on Wednesday, May 7th. Scotiabank dropped their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a "sector perform" rating on the stock in a report on Wednesday, May 7th. National Bankshares raised shares of RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from C$18.00 to C$19.00 in a report on Tuesday, July 15th. Raymond James Financial set a C$20.50 price objective on shares of RioCan Real Estate Investment Trust and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Desjardins dropped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Eight 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$20.30.

RioCan Real Estate Investment Trust Trading Up 0.7%

The company's 50 day moving average price is C$17.84 and its 200 day moving average price is C$17.72. 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 cap of C$5.45 billion, a PE ratio of 19.45 and a beta of 1.04.

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.