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) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.86 and traded as high as C$18.98. RioCan Real Estate Investment Trust shares last traded at C$18.88, with a volume of 427,089 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets raised shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. CIBC upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of C$21.67.

RioCan Real Estate Investment Trust Stock Performance

The business has a 50 day moving average price of C$18.46 and a two-hundred day moving average price of C$18.86. 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 company has a market cap of C$5.66 billion, a P/E ratio of 94.40 and a beta of 1.31.

Insider Transactions at RioCan Real Estate Investment Trust

In other RioCan Real Estate Investment Trust news, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total transaction of C$75,804.00. Also, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total transaction of C$40,018.08. 0.31% of the stock is currently owned by company insiders.

About RioCan Real Estate Investment Trust

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada’s portfolio of retail-focused, increasingly mixed-use properties. The REIT’s property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada.