Shares of RioCan Real Estate Investment Trust (TSE:REI.UN – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.02 and traded as high as C$21.98. RioCan Real Estate Investment Trust shares last traded at C$21.95, with a volume of 739,947 shares traded.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on REI.UN. Raymond James Financial upped their price target on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a report on Wednesday, May 6th. National Bank Financial upped their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Scotia upped their target price on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Desjardins increased their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, TD lifted their price target on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.68.
Check Out Our Latest Stock Analysis on RioCan Real Estate Investment Trust
RioCan Real Estate Investment Trust Trading Up 0.7%
RioCan Real Estate Investment Trust (TSE:REI.UN – Get Free Report) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The company had revenue of C$304.36 million for the quarter.
RioCan Real Estate Investment Trust Company Profile
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. Riocan’s tenants consist of grocery stores, supermarkets, restaurants, cinemas, pharmacies, and corporates. By geography, the company operates in Canada, which generates the majority of total revenue, and in the United States.
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