RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

RioCan Real Estate Investment Trust (TSE:REI.UN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$18.41 and traded as high as C$18.69. RioCan Real Estate Investment Trust shares last traded at C$18.46, with a volume of 792,447 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on REI.UN. Canaccord Genuity Group increased their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. BMO Capital Markets upped their price objective on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research report on Monday, October 28th. National Bankshares lifted their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th. TD Securities increased their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Finally, CIBC lifted their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from 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 Stock Down 0.8 %

The firm has a market capitalization of C$5.50 billion, a P/E ratio of 91.60 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The stock has a 50 day moving average of C$19.11 and a 200-day moving average of C$18.42.

Insider Activity

In other news, Senior Officer Jennifer Suess sold 2,104 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$19.02, for a total transaction of C$40,018.08. 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.