SmartCentres Real Estate Investment Trst (TSE:SRU.UN) Sets New 52-Week High on Analyst Upgrade

SmartCentres Real Estate Investment Trst (TSE:SRU.UN)’s share price reached a new 52-week high during trading on Wednesday after TD Securities raised their price target on the stock from C$24.00 to C$26.00. TD Securities currently has a hold rating on the stock. SmartCentres Real Estate Investment Trst traded as high as C$26.11 and last traded at C$26.05, with a volume of 46175 shares changing hands. The stock had previously closed at C$25.71.

Several other brokerages have also recently commented on SRU.UN. Royal Bank of Canada dropped their target price on SmartCentres Real Estate Investment Trst from C$28.00 to C$27.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. BMO Capital Markets cut their price objective on SmartCentres Real Estate Investment Trst from C$24.50 to C$23.50 in a report on Friday, May 17th. Scotiabank lowered their target price on SmartCentres Real Estate Investment Trst from C$25.00 to C$24.50 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Finally, CIBC dropped their price target on shares of SmartCentres Real Estate Investment Trst from C$30.00 to C$28.00 in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$25.86.

SmartCentres Real Estate Investment Trst Price Performance

The company has a market cap of C$3.78 billion, a PE ratio of 16.32 and a beta of 1.25. The stock has a fifty day moving average price of C$23.95 and a 200-day moving average price of C$23.17. The company has a debt-to-equity ratio of 80.88, a current ratio of 0.17 and a quick ratio of 0.10.

SmartCentres Real Estate Investment Trst Company Profile

SmartCentres is one of Canada's largest real estate investment trusts with total assets of approximately $9.5 billion. It owns and manages 34 million square feet of retail space in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants.