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

Key Points

• Shares briefly crossed above its 200-day moving average of C$19.09, trading as high as C$19.18 and last at C$18.93 on volume of 877,561 shares.
• Multiple analysts (Raymond James, National Bank, RBC) raised price targets, leaving a consensus price target of C$21.00 and an overall "Moderate Buy" rating (six Buys, two Holds).
• Key fundamentals show a C$5.56B market cap and P/E of 82.3, but very low liquidity (quick ratio 0.08, current ratio 0.30) and high debt-to-equity of 95.37; quarterly EPS was C$0.43 on C$347.9M revenue.

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$19.09 and traded as high as C$19.18. RioCan Real Estate Investment Trust shares last traded at C$18.93, with a volume of 877,561 shares changing hands.

Analysts Set New Price Targets

REI.UN has been the subject of several research analyst reports. Raymond James Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the company an "outperform" rating in a research report on Monday, February 23rd. National Bank Financial boosted their target price on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the stock an "outperform" rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an "outperform" rating in a research note on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust currently has an average rating of "Moderate Buy" and a consensus price target of C$21.00.

RioCan Real Estate Investment Trust Stock Down 0.4%

The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The company has a market capitalization of C$5.56 billion, a price-to-earnings ratio of 82.30 and a beta of 0.90. The business's 50-day moving average is C$19.56 and its 200-day moving average is C$19.09.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share for the quarter. The company had revenue of C$347.92 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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. 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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