RioCan Real Estate Investment Trust (TSE:REI.UN) Shares Pass Above 200-Day Moving Average – What’s Next?

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.51 and traded as high as C$18.51. RioCan Real Estate Investment Trust shares last traded at C$18.43, with a volume of 743,595 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on REI.UN shares. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their target price for the company from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. National Bankshares lifted their price objective on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th. TD Securities upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Canaccord Genuity Group raised their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, CIBC increased their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$21.67.

RioCan Real Estate Investment Trust Trading Up 0.8 %

The business has a 50 day simple moving average of C$18.73 and a two-hundred day simple moving average of C$18.51. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The company has a market cap of C$5.53 billion, a PE ratio of 92.15 and a beta of 1.31.

Insider Transactions at RioCan Real Estate Investment Trust

In related news, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$19.02, for a total value of C$40,018.08. Also, Senior Officer Oliver Harrison sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. Company insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Company Profile

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.