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

Key Points

• Technical move: RioCan passed above its 200-day moving average (200-day = C$19.10) and traded as high as C$19.57, closing near C$19.54 on volume of about 1,011,401 shares.
• Analyst sentiment: Several firms raised targets and ratings (five Buys, two Holds), leaving an average MarketBeat target of C$20.88 and an overall consensus of "Moderate Buy."
• Fundamentals/risk: The REIT has a C$5.74B market cap but a high P/E (84.96), very high debt-to-equity (95.37) and low liquidity ratios (quick 0.08, current 0.30), suggesting leverage and liquidity risk despite recent quarterly EPS of C$0.43 on C$347.9M revenue.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$19.10 and traded as high as C$19.57. RioCan Real Estate Investment Trust shares last traded at C$19.54, with a volume of 1,011,401 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on REI.UN shares. National Bank Financial raised their price objective on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the company an "outperform" rating in a research report on Friday, February 20th. Royal Bank Of Canada boosted their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Monday, February 23rd. Finally, Raymond James Financial increased their price target on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust presently has an average rating of "Moderate Buy" and an average target price of C$20.88.

RioCan Real Estate Investment Trust Stock Up 2.9%

The company has a market cap of C$5.74 billion, a price-to-earnings ratio of 84.96 and a beta of 0.90. The business has a 50-day simple moving average of C$19.47 and a two-hundred day simple moving average of C$19.10. 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 (TSE:REI.UN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported C$0.43 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 business had revenue of C$347.92 million for 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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