SmartCentres Real Estate Investment Trst (TSE:SRU.UN) Stock Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• SmartCentres Real Estate Investment Trst shares moved above their 50-day moving average, trading as high as C$30.45 and last changing hands at C$30.32.
• Analysts have recently nudged price targets higher, with RBC raising its target to C$31.00 and the current consensus rating remaining Hold with a consensus target of C$28.75.
• The REIT reported C$0.73 EPS in its latest quarter, with revenue of C$231.84 million, and it continues to operate a large portfolio with 97.6% occupancy.

Shares of SmartCentres Real Estate Investment Trst (TSE:SRU.UN - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$29.70 and traded as high as C$30.45. SmartCentres Real Estate Investment Trst shares last traded at C$30.32, with a volume of 169,145 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on SRU.UN shares. National Bank Financial increased their target price 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 note on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of SmartCentres Real Estate Investment Trst from C$30.00 to C$31.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Finally, Scotia upped their price target on shares of SmartCentres Real Estate Investment Trst from C$27.50 to C$28.50 and gave the company a "sector perform" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$28.75.

SmartCentres Real Estate Investment Trst Price Performance

The company has a 50 day simple moving average of C$29.70 and a 200-day simple moving average of C$28.19. The stock has a market cap of C$5.17 billion, a price-to-earnings ratio of 14.16 and a beta of 0.87. The company has a quick ratio of 0.10, a current ratio of 0.17 and a debt-to-equity ratio of 80.88.

SmartCentres Real Estate Investment Trst (TSE:SRU.UN - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported C$0.73 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$231.84 million for the quarter. As a group, research analysts anticipate that SmartCentres Real Estate Investment Trst will post 1.9333838 EPS for the current fiscal year.

About SmartCentres Real Estate Investment Trst

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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