RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) passed 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 traded.

Analyst Upgrades and Downgrades

REI.UN has been the subject of a number of analyst reports. BMO Capital Markets raised shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. TD Securities lifted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. National Bankshares increased their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. Canaccord Genuity Group boosted 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. Finally, CIBC increased their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$21.67.

RioCan Real Estate Investment Trust Stock Performance

The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The company has a market cap 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 two-hundred day moving average price of C$18.52.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other news, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust 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. Also, Senior Officer Oliver Harrison sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total transaction 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.