SEGRO (OTCMKTS:SEGXF – Get Free Report) shares traded down 4.8% during mid-day trading on Tuesday . The company traded as low as $11.50 and last traded at $11.50. 2,940 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 3,211 shares. The stock had previously closed at $12.08.
Key SEGRO News
Here are the key news stories impacting SEGRO this week:
- Positive Sentiment: SEGRO’s board said it would recommend Prologis’ latest takeover proposal, boosting confidence that a deal could proceed and lifting the shares. Segro Shares Rise After Board Yields to Prologiss Final $18.7 Billion Takeover Bid
- Positive Sentiment: Prologis raised its offer, added a partial cash alternative of up to £3.5 billion, and committed to a secondary London listing, all of which made the bid more attractive to SEGRO shareholders. SEGRO jumps after board agrees to recommend Prologis deal
- Positive Sentiment: Several reports confirmed Prologis’ “best and final” £14 billion / $18.7 billion takeover proposal, reinforcing the view that negotiations have advanced and increasing speculation that SEGRO shareholders may accept. Prologis tables $18.8 billion takeover proposal for UK’s Segro
- Neutral Sentiment: Shareholder and analyst commentary suggested SEGRO should engage constructively with Prologis, while Jefferies questioned whether SEGRO can create as much value on its own as the bid implies. Segro shareholder urges engagement with Prologis over $18.1 billion proposal
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on SEGXF. Kepler Capital Markets raised SEGRO from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Jefferies Financial Group cut SEGRO from a “buy” rating to a “hold” rating in a report on Thursday, July 9th. The Goldman Sachs Group raised SEGRO from a “buy” rating to a “buy” rating in a report on Monday, June 1st. Finally, BNP Paribas Exane assumed coverage on shares of SEGRO in a research report on Wednesday, July 1st. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.
SEGRO Stock Up 6.2%
The company’s 50-day moving average price is $10.59 and its 200-day moving average price is $10.13. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36.
SEGRO Company Profile
SEGRO PLC (OTCMKTS:SEGXF) is a leading real estate investment trust specializing in the ownership, development and management of modern warehousing, light industrial and urban logistics properties. As a FTSE 100 company, SEGRO’s portfolio encompasses a broad range of distribution centres, last-mile facilities and multi-let industrial estates designed to support high-growth sectors such as e-commerce, retail and manufacturing.
The company traces its origins to the Slough Trading Company, established in 1920, and underwent a major rebranding in 2009 to become SEGRO, reflecting its pan-European ambitions.
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