Barclays Cuts SEGRO (LON:SGRO) Price Target to GBX 985

SEGRO (LON:SGROGet Rating) had its price target cut by Barclays from GBX 1,290 ($15.59) to GBX 985 ($11.90) in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 24.59% from the company’s previous close.

Several other research analysts have also issued reports on SGRO. Berenberg Bank dropped their target price on SEGRO from GBX 1,560 ($18.85) to GBX 1,260 ($15.22) and set a “buy” rating for the company in a research report on Wednesday, August 31st. Citigroup restated a “buy” rating and set a GBX 1,388 ($16.77) price objective on shares of SEGRO in a report on Monday, August 8th. Finally, Shore Capital upgraded SEGRO to a “hold” rating in a research note on Friday, September 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, SEGRO currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,304.78 ($15.77).

SEGRO Price Performance

SGRO stock opened at GBX 790.60 ($9.55) on Friday. The stock has a market cap of £9.56 billion and a PE ratio of 234.22. SEGRO has a 12 month low of GBX 790.60 ($9.55) and a 12 month high of GBX 1,508 ($18.22). The company has a 50-day moving average price of GBX 992.49 and a 200 day moving average price of GBX 1,114.15. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 28.49.

Insider Buying and Selling at SEGRO

In related news, insider Andy Harrison bought 22,271 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were bought at an average price of GBX 892 ($10.78) per share, for a total transaction of £198,657.32 ($240,040.26).

About SEGRO

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SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 8.1 million square metres of space (88 million square feet) valued at £13.3 billion serving customers from a wide range of industry sectors.

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