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

RioCan Real Estate Investment Trust (TSE:REI.UN) 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 trading hands.

Wall Street Analysts Forecast Growth

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

RioCan Real Estate Investment Trust Stock Performance

The company has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 92.15 and a beta of 1.31. The firm has a fifty day simple moving average of C$18.73 and a 200 day simple moving average of C$18.51. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

Insiders Place Their Bets

In related news, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust stock in a transaction that occurred on Friday, November 22nd. The shares were 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 company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. 0.31% of the stock is currently owned by corporate insiders.

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.