RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• RioCan Real Estate Investment Trust shares have crossed above their 200-day moving average of C$17.76, trading at C$17.73 with a volume of 786,421 shares.
• Analyst ratings have varied, with CIBC and Desjardins lowering their target prices to C$20.00, while the average price target for RioCan is currently C$20.30, indicating a consensus rating of "Moderate Buy."
• RioCan has a market cap of C$5.32 billion, a high P/E ratio of 88.65, and significant leverage with a debt-to-equity ratio of 95.37.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.76 and traded as high as C$17.77. RioCan Real Estate Investment Trust shares last traded at C$17.73, with a volume of 786,421 shares.

Wall Street Analysts Forecast Growth

REI.UN has been the subject of a number of analyst reports. Desjardins lowered their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Canaccord Genuity Group decreased their price target on shares of RioCan Real Estate Investment Trust from C$19.50 to C$19.00 and set a "hold" rating for the company in a report on Wednesday, May 7th. Raymond James Financial set a C$20.50 price target on shares of RioCan Real Estate Investment Trust and gave the company an "outperform" rating in a report on Thursday, July 10th. CIBC decreased their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, National Bankshares raised shares of RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$18.00 to C$19.00 in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, RioCan Real Estate Investment Trust currently has a consensus rating of "Moderate Buy" and an average target price of C$20.30.

RioCan Real Estate Investment Trust Stock Performance

The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The stock has a market cap of C$5.38 billion, a price-to-earnings ratio of 89.65 and a beta of 1.31. The stock's 50-day simple moving average is C$17.72 and its 200-day simple moving average is C$17.75.

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.