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. “
Separately, ValuEngine lowered shares of IRSA Propiedades Comerciales from a “hold” rating to a “sell” rating in a research note on Monday, February 4th.
IRSA Propiedades Comerciales (NASDAQ:IRCP) last issued its quarterly earnings results on Friday, February 22nd. The financial services provider reported ($4.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($4.60). The business had revenue of $46.04 million during the quarter, compared to the consensus estimate of $54.51 million. IRSA Propiedades Comerciales had a return on equity of 14.91% and a net margin of 121.57%. Equities research analysts expect that IRSA Propiedades Comerciales will post -1.93 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of IRCP. Macquarie Group Ltd. bought a new position in shares of IRSA Propiedades Comerciales in the 4th quarter worth about $1,010,000. VR Advisory Services Ltd bought a new position in shares of IRSA Propiedades Comerciales in the 4th quarter worth about $932,000. 683 Capital Management LLC increased its stake in shares of IRSA Propiedades Comerciales by 76.8% in the 4th quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock worth $1,299,000 after acquiring an additional 31,303 shares in the last quarter. City of London Investment Management Co. Ltd. bought a new position in shares of IRSA Propiedades Comerciales in the 4th quarter worth about $480,000. Finally, Northern Trust Corp bought a new position in shares of IRSA Propiedades Comerciales in the 1st quarter worth about $202,000. Institutional investors own 6.15% of the company’s stock.
IRSA Propiedades Comerciales Company Profile
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.
Further Reading: How interest rates affect municipal bond prices
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for IRSA Propiedades Comerciales Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IRSA Propiedades Comerciales and related companies with MarketBeat.com's FREE daily email newsletter.