RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

RioCan Real Estate Investment Trust (TSE:REI.UN)’s stock price 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.

Wall Street Analysts Forecast Growth

REI.UN has been the subject of several analyst reports. CIBC raised their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. Canaccord Genuity Group raised their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. TD Securities boosted their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. BMO Capital Markets raised 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 report on Wednesday, December 18th. Finally, National Bankshares boosted their target price on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.67.

RioCan Real Estate Investment Trust Stock Performance

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 company has a market capitalization of C$5.56 billion, a price-to-earnings ratio of 92.75 and a beta of 1.31. The stock has a 50-day moving average price of C$18.72 and a 200-day moving average price of C$18.52.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other RioCan Real Estate Investment Trust news, Senior Officer Jennifer Suess sold 2,104 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. Insiders own 0.31% of the company’s stock.

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.