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

Key Points

• The share price of RioCan Real Estate Investment Trust (TSE:REI.UN) has recently crossed above its 200-day moving average, reaching a high of C$19.17.
• Analysts have shown optimism, with Raymond James setting a target price of C$20.50, while National Bankshares raised their target from C$18.00 to C$19.00.
• The company has a market cap of C$5.62 billion and is classified as having a consensus rating of "Moderate Buy" among analysts.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$17.65 and traded as high as C$19.17. RioCan Real Estate Investment Trust shares last traded at C$19.07, with a volume of 529,348 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on REI.UN shares. Raymond James Financial set a C$20.50 price objective on RioCan Real Estate Investment Trust and gave the company an "outperform" rating in a research report on Thursday, July 10th. National Bankshares upgraded RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from C$18.00 to C$19.00 in a research report on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$20.22.

RioCan Real Estate Investment Trust Trading Down 0.9%

The company has a market cap of C$5.62 billion, a PE ratio of 20.07 and a beta of 1.06. 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 company has a 50-day moving average of C$18.19 and a 200 day moving average of C$17.65.

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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