RioCan Real Estate Investment Trust (TSE:REI.UN) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• RioCan shares crossed above their 200-day moving average, reaching C$22.79 and last trading at C$22.70 versus the C$20.92 long-term average.
• Analysts remain broadly positive: six rate the REIT a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of C$23.68.
• RioCan reported quarterly EPS of C$0.32 on revenue of C$322.31 million, but its balance sheet shows high leverage, with a debt-to-equity ratio of 95.37 and a current ratio of 0.30.

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.92 and traded as high as C$22.79. RioCan Real Estate Investment Trust shares last traded at C$22.70, with a volume of 971,235 shares traded.

Wall Street Analysts Forecast Growth

REI.UN has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. National Bank Financial increased their price target on 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. TD raised their price objective on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. BMO Capital Markets boosted their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Finally, Scotia boosted their price objective on 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, RioCan Real Estate Investment Trust has a consensus rating of "Moderate Buy" and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Stock Performance

The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The stock has a market cap of C$6.61 billion, a P/E ratio of 27.35 and a beta of 0.95. The company's 50 day moving average price is C$22.58 and its 200-day moving average price is C$20.92.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last released its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 EPS for the quarter. The company had revenue of C$322.31 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.

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