IRSA Propiedades Comerciales (NASDAQ:IRCP) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “IRSA Propiedades Comerciales S.A. is a real estate company which focused on the acquisition, development, administration and operation of shopping centres and office buildings. IRSA Propiedades Comerciales SA, formerly known as Alto Palermo SA, is based in Argentina. “
NASDAQ IRCP opened at $20.00 on Friday. The business has a 50-day moving average of $18.33. The company has a current ratio of 4.36, a quick ratio of 4.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $606.77 million, a PE ratio of 0.96 and a beta of 0.47. IRSA Propiedades Comerciales has a 12 month low of $16.82 and a 12 month high of $37.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Newfoundland Capital Management grew its holdings in shares of IRSA Propiedades Comerciales by 4.8% in the fourth quarter. Newfoundland Capital Management now owns 205,395 shares of the financial services provider’s stock worth $3,703,000 after purchasing an additional 9,428 shares during the last quarter. 683 Capital Management LLC grew its holdings in shares of IRSA Propiedades Comerciales by 76.8% in the fourth quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock worth $1,299,000 after purchasing an additional 31,303 shares during the last quarter. Macquarie Group Ltd. bought a new position in IRSA Propiedades Comerciales during the 4th quarter worth about $1,010,000. VR Advisory Services Ltd bought a new position in IRSA Propiedades Comerciales during the 4th quarter worth about $932,000. Finally, City of London Investment Management Co. Ltd. bought a new position in IRSA Propiedades Comerciales during the 4th quarter worth about $480,000. Hedge funds and other institutional investors own 5.73% of the company’s stock.
About IRSA Propiedades Comerciales
IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.
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