Citigroup Upgrades Shopping Centres Australasia Property Group RE Ltd. (SCPAF) to Buy

The word on The Street in general, suggests a Hold analyst consensus rating for Shopping Centres Australasia Property Group RE Ltd. with a $1.99 average price target.

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Shopping Centres Australasia Property Group RE Ltd.’s market cap is currently $2.15B and has a P/E ratio of 4.31.

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Shopping Centres Australasia Property Group owns a portfolio of smaller shopping centres, the majority anchored by Woolworths or Coles businesses, making up about 50% of rental income. Assets are predominantly in regional areas of Australia and comprise neighbourhood (about 75% by value) and subregional (25%) shopping centres. Upside to earnings or distributions in the medium term will largely come from the resetting of legacy specialty leases to prevailing market rates.

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