MERLIN Properties SOCIMI (OTCMKTS:MRPRF) Shares Up 0.3% – Time to Buy?

MERLIN Properties SOCIMI, S.A. (OTCMKTS:MRPRF)’s stock price shot up 0.3% on Thursday. The company traded as high as $14.15 and last traded at $14.15. 1,400 shares changed hands during trading, an increase of 207% from the average session volume of 456 shares. The stock had previously closed at $14.1080.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of MERLIN Properties SOCIMI to a “hold” rating in a report on Sunday, August 2nd. Barclays cut shares of MERLIN Properties SOCIMI from an “overweight” rating to a “reduce” rating in a report on Monday, August 24th. Morgan Stanley reissued an “overweight” rating on shares of MERLIN Properties SOCIMI in a research note on Tuesday, September 1st. Finally, Citigroup restated a “neutral” rating on shares of MERLIN Properties SOCIMI in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MERLIN Properties SOCIMI presently has a consensus rating of “Hold”.

MERLIN Properties SOCIMI Price Performance

The firm’s 50-day moving average is $16.30 and its 200 day moving average is $17.09.

About MERLIN Properties SOCIMI

MERLIN Properties SOCIMI, SA is a Spanish real estate investment company structured as a SOCIMI, a form of real estate investment trust. The company owns, manages and develops income-producing properties, with a portfolio focused primarily on office buildings, logistics and industrial facilities, and shopping centers.

MERLIN’s activities include leasing commercial real estate, managing properties for tenants and undertaking redevelopment and development projects. The company has also expanded its presence in the data-center sector, complementing its traditional commercial real estate operations.

Founded in 2014 and headquartered in Madrid, MERLIN became one of Spain’s largest listed property companies through acquisitions and portfolio expansion.