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

Key Points

• RioCan Real Estate Investment Trust's shares have surpassed their 200-day moving average, currently trading at C$18.80, with a high of C$18.98 during trading.
• Analysts have upgraded target prices for RioCan, with National Bankshares raising their price target to C$21.50 and Raymond James setting it at C$20.50, reflecting a strong outlook with most ratings being "Buy".
• The company has a market capitalization of C$5.54 billion and maintains a significant debt-to-equity ratio of 95.37, indicating its leverage position in the market.

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$17.79 and traded as high as C$18.98. RioCan Real Estate Investment Trust shares last traded at C$18.80, with a volume of 389,369 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. National Bankshares boosted their target price on shares of RioCan Real Estate Investment Trust from C$19.75 to C$21.50 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. 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. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust currently has an average rating of "Moderate Buy" and a consensus target price of C$20.50.

RioCan Real Estate Investment Trust Trading Down 0.5%

The stock's 50 day moving average is C$18.59 and its two-hundred day moving average is C$17.79. The company has a market capitalization of C$5.54 billion, a PE ratio of 19.79 and a beta of 1.03. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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.

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