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

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)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. National Bankshares upgraded RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from C$18.00 to C$19.00 in a research note on Tuesday, July 15th. Scotiabank cut their price target on RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Canaccord Genuity Group reduced their price objective 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 research note on Wednesday, May 7th. 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 research note on Thursday, July 10th. Finally, CIBC reduced their price objective 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 research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$20.30.

RioCan Real Estate Investment Trust Stock Performance

The stock has a market cap of C$5.38 billion, a P/E ratio of 89.65 and a beta of 1.31. 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's 50-day moving average price is C$17.71 and its 200-day moving average price is C$17.76.

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.