RioCan Real Estate Investment Trust (TSE:REI.UN) Share Price Crosses Above Two Hundred Day Moving Average of $26.18

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.18 and traded as high as $26.37. RioCan Real Estate Investment Trust shares last traded at $25.98, with a volume of 405,223 shares trading hands.

A number of analysts recently commented on the company. TD Securities boosted their target price on RioCan Real Estate Investment Trust from C$29.00 to C$30.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. CIBC boosted their target price on RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a research report on Tuesday, August 6th. Raymond James reaffirmed a “market perform” rating on shares of RioCan Real Estate Investment Trust in a research report on Wednesday, August 7th. Finally, Canaccord Genuity boosted their target price on RioCan Real Estate Investment Trust from C$28.00 to C$29.00 in a research report on Wednesday, September 4th.

The business has a 50 day moving average price of C$26.30 and a two-hundred day moving average price of C$26.18. The stock has a market cap of $7.94 billion and a PE ratio of 11.02. The company has a debt-to-equity ratio of 80.08, a quick ratio of 0.14 and a current ratio of 0.49.

In related news, Senior Officer Jonathan Gitlin purchased 1,379 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of C$26.33 per share, with a total value of C$36,309.07. Following the acquisition, the insider now owns 27,942 shares of the company’s stock, valued at approximately C$735,712.86. Insiders purchased a total of 6,359 shares of company stock worth $166,831 in the last ninety days.

About RioCan Real Estate Investment Trust (TSE:REI.UN)

RioCan is one of Canada's largest real estate investment trusts with a total enterprise value of approximately $13.2 billion as at December 31, 2018. 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.

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