SmartCentres Real Estate Investment Trst (TSE:SRU.UN) Stock Crosses Below 50-Day Moving Average - Here's Why

Key Points

• SmartCentres shares fell below their 50-day moving average, trading as low as C$27.74 versus the C$29.62 average, and last changing hands at C$27.91.
• Analyst sentiment remains cautious: RBC raised its target to C$31 and maintained an “outperform” rating, while National Bank and Scotia issued “sector perform” ratings. The consensus rating is Hold, with an average target price of C$29.17.
• The REIT reported quarterly revenue of C$225.96 million and EPS of negative C$0.83. SmartCentres owns approximately C$12.3 billion in assets across 200 properties, with 97.6% in-place and committed occupancy.

SmartCentres Real Estate Investment Trst (TSE:SRU.UN - Get Free Report)'s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$29.62 and traded as low as C$27.74. SmartCentres Real Estate Investment Trst shares last traded at C$27.91, with a volume of 263,804 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SRU.UN. Royal Bank Of Canada increased their price objective on SmartCentres Real Estate Investment Trst from C$30.00 to C$31.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. National Bank Financial upped their price target on SmartCentres Real Estate Investment Trst from C$27.10 to C$28.00 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Finally, Scotia upped their price target on SmartCentres Real Estate Investment Trst from C$27.50 to C$28.50 and gave the company a "sector perform" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$29.17.

SmartCentres Real Estate Investment Trst Price Performance

The company has a debt-to-equity ratio of 80.88, a current ratio of 0.17 and a quick ratio of 0.10. The firm has a market capitalization of C$4.04 billion, a PE ratio of 30.78 and a beta of 0.86. The business's 50 day moving average is C$29.62 and its two-hundred day moving average is C$28.54.

SmartCentres Real Estate Investment Trst (TSE:SRU.UN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C($0.83) earnings per share (EPS) for the quarter. SmartCentres Real Estate Investment Trst had a return on equity of 5.35% and a net margin of 29.07%.The company had revenue of C$225.96 million during the quarter. As a group, research analysts anticipate that SmartCentres Real Estate Investment Trst will post 1.9333838 EPS for the current year.

SmartCentres Real Estate Investment Trst Company Profile

SmartCentres is one of Canada's largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 200 strategically located properties in communities across the country. SmartCentres has approximately $12.3 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.5 million square feet of leasable space with 97.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.

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