UBS analyst Grant McCasker maintained a Hold rating on Shopping Centres Australasia Property Group RE Ltd. (SCPAF – Research Report) today and set a price target of A$2.72. The company’s shares closed last Friday at $2.35.
McCasker covers the Financial sector, focusing on stocks such as Goodman Group, GPT Group, and Shopping Centres Australasia Property Group RE Ltd.. According to TipRanks, McCasker has an average return of 8.0% and a 90.00% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for Shopping Centres Australasia Property Group RE Ltd. with a $2.05 average price target.
Based on Shopping Centres Australasia Property Group RE Ltd.’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0
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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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