Morgan Stanley Downgrades Shopping Centres Australasia Property Group (OTCMKTS:SCPAF) to Hold

Shopping Centres Australasia Property Group (OTCMKTS:SCPAF) was downgraded by equities researchers at Morgan Stanley to a “hold” rating in a research note issued on Thursday, TipRanks reports. They currently have a $2.95 target price on the stock. Morgan Stanley’s target price suggests a potential upside of 62.98% from the stock’s current price.

Shares of OTCMKTS SCPAF remained flat at $$1.81 during midday trading on Thursday. The business has a 50-day moving average price of $1.81 and a 200-day moving average price of $1.72. Shopping Centres Australasia Property Group has a fifty-two week low of $1.81 and a fifty-two week high of $1.81.

Shopping Centres Australasia Property Group Company Profile

SCA Property Group (SCP) includes two internally managed real estate investment trusts owning a portfolio of quality neighbourhood and sub-regional shopping centres located across Australia. The SCA Property Group invests in shopping centres predominantly anchored by non-discretionary retailers, with long term leases to tenants such as Woolworths Limited, Coles Group Limited and companies in the Wesfarmers Limited group.

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