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

Key Points

• RioCan REIT shares moved above their 200-day moving average, trading as high as C$22.75 and last changing hands at C$22.50. The move comes as the stock trades above both its 50-day and 200-day averages.
• Analysts remain broadly positive on the stock, with several firms raising price targets and six analysts rating it a Buy versus one Hold. MarketBeat’s consensus view is Moderate Buy with an average target price of C$23.68.
• The company reported quarterly EPS of C$0.32 on revenue of C$322.31 million. RioCan also carries notable leverage, with a debt-to-equity ratio of 95.37 and weak liquidity ratios, while its market cap stands at C$6.55 billion.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$20.57 and traded as high as C$22.75. RioCan Real Estate Investment Trust shares last traded at C$22.50, with a volume of 463,554 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on REI.UN shares. National Bank Financial lifted their price target on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Raymond James Financial raised their target price on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Desjardins lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Scotia boosted their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a "sector perform" rating in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$23.68.

RioCan Real Estate Investment Trust Trading Down 0.7%

The stock has a 50 day moving average of C$22.29 and a 200 day moving average of C$20.57. 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 firm has a market cap of C$6.55 billion, a P/E ratio of 27.11 and a beta of 0.95.

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

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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