RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• RioCan shares crossed above their 200-day moving average, reaching C$21.67 before last trading at C$21.50, compared with a 200-day average of C$21.13.
• Analyst sentiment remains positive: six analysts rate the REIT a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of C$23.81.
• RioCan reported quarterly EPS of C$0.52 on revenue of C$304.36 million. The REIT has a C$6.25 billion market capitalization, though its 50-day moving average of C$22.51 remains above its current share price.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$21.13 and traded as high as C$21.67. RioCan Real Estate Investment Trust shares last traded at C$21.50, with a volume of 453,567 shares.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Desjardins boosted their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Canaccord Genuity Group increased their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Scotia raised their target price on shares of RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. TD lifted their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets boosted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$23.81.

RioCan Real Estate Investment Trust Trading Down 0.7%

The company has a market capitalization of C$6.25 billion, a price-to-earnings ratio of 25.00 and a beta of 0.95. 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 firm has a fifty day moving average price of C$22.51 and a 200-day moving average price of C$21.13.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 EPS for the quarter. The company had revenue of C$304.36 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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