SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $19.25 and traded as high as $19.3920. SmartCentres Real Estate Investment Trust shares last traded at $19.3920, with a volume of 652,958 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of SmartCentres Real Estate Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

SmartCentres Real Estate Investment Trust Trading Up 0.9%

The company has a debt-to-equity ratio of 0.61, a current ratio of 0.22 and a quick ratio of 0.22. The company’s 50 day moving average is $19.25 and its two-hundred day moving average is $20.18. The firm has a market cap of $3.46 billion, a P/E ratio of 25.52 and a beta of 0.84.

SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF) last released its earnings results on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($1.00). The firm had revenue of $159.07 million for the quarter, compared to analyst estimates of $162.68 million. SmartCentres Real Estate Investment Trust had a return on equity of 3.13% and a net margin of 21.47%. On average, sell-side analysts predict that SmartCentres Real Estate Investment Trust will post 1.60 earnings per share for the current year.

About SmartCentres Real Estate Investment Trust

SmartCentres Real Estate Investment Trust is a Canadian real estate investment trust that owns, develops and manages a portfolio of retail and mixed-use properties. The trust is best known for shopping centres anchored by major retailers, including Walmart locations, and serves consumers and commercial tenants across Canada.

In addition to its retail properties, SmartCentres has expanded into residential and mixed-use development. Its projects may combine shopping, multifamily housing, office space, self-storage and other complementary uses, allowing the trust to create larger, integrated communities around established retail locations.

SmartCentres traces its roots to the development of Walmart-anchored shopping centres in Canada and has grown into one of the country’s prominent retail-focused real estate platforms.