SEGRO (OTCMKTS:SEGXF) Shares Gap Up – Time to Buy?

SEGRO (OTCMKTS:SEGXF) shares gapped up before the market opened on Wednesday. The stock had previously closed at $12.00, but opened at $12.30. SEGRO shares last traded at $12.30, with a volume of 180 shares.

Wall Street Analysts Forecast Growth

SEGXF has been the subject of several analyst reports. Jefferies Financial Group downgraded SEGRO from a “buy” rating to a “hold” rating in a research note on Thursday, July 9th. Berenberg Bank downgraded SEGRO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Barclays raised SEGRO from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. BNP Paribas Exane assumed coverage on SEGRO in a research note on Wednesday, July 1st. They set a “neutral” rating on the stock. Finally, Kepler Capital Markets downgraded shares of SEGRO from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold”.

SEGRO Trading Up 0.5%

The stock has a 50-day moving average of $12.69 and a 200 day moving average of $11.06.

SEGRO Company Profile

SEGRO plc is a UK-based real estate investment trust that owns, develops and manages modern warehouses and industrial properties. Its portfolio is focused primarily on logistics facilities, urban warehouses and other properties used by businesses for storage, distribution, manufacturing and related operations.

The company serves a range of occupiers, including retailers, logistics providers, manufacturers and data-driven businesses. SEGRO’s activities include property development, asset management and the operation of facilities in strategically located logistics and urban areas.

SEGRO traces its origins to Slough Trading Company, established in 1920, and adopted the SEGRO name in 2007.