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

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$18.10 and traded as high as C$19.98. RioCan Real Estate Investment Trust shares last traded at C$19.80, with a volume of 542,921 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. National Bankshares lifted their price target on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th. Finally, TD Securities boosted their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$21.44.

RioCan Real Estate Investment Trust Stock Up 0.3 %

The stock has a market cap of C$5.94 billion, a PE ratio of 99.00 and a beta of 1.31. The business has a 50 day moving average price of C$19.21 and a 200 day moving average price of C$18.10. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

About RioCan Real Estate Investment Trust

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.