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

RioCan Real Estate Investment Trust (TSE:REI.UN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

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

RioCan Real Estate Investment Trust Stock Performance

The company has a market cap of C$5.94 billion, a price-to-earnings ratio of 99.00 and a beta of 1.31. The firm has a 50-day simple moving average of C$19.30 and a 200 day simple moving average of C$18.12. 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.