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

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.75 and traded as high as C$18.75. RioCan Real Estate Investment Trust shares last traded at C$18.65, with a volume of 633,344 shares.

Analyst Ratings Changes

REI.UN has been the topic of several analyst reports. BMO Capital Markets raised RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their target price for the company from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. CIBC increased their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. Finally, National Bankshares raised their target price on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of C$21.67.

RioCan Real Estate Investment Trust Stock Performance

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 company has a market cap of C$5.59 billion, a PE ratio of 93.25 and a beta of 1.31. The business has a fifty day simple moving average of C$18.50 and a two-hundred day simple moving average of C$18.75.

Insider Activity

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

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.