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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) crossed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on REI.UN. Royal Bank Of Canada lifted their target price 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. BMO Capital Markets upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Desjardins raised their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Raymond James Financial increased their target price on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, National Bank Financial raised their price target on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$23.68.

RioCan Real Estate Investment Trust Trading Down 0.7%

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’s 50 day moving average is C$22.29 and its 200 day moving average is C$20.57. The company has a market capitalization of C$6.55 billion, a PE ratio of 27.11 and a beta of 0.95.

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

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.