IRSA Propiedades Comerciales SA (IRCP) to Issue Semiannual Dividend of $0.47 on November 19th

IRSA Propiedades Comerciales SA (NASDAQ:IRCP) declared a semiannual dividend on Tuesday, October 30th, Wall Street Journal reports. Investors of record on Thursday, November 8th will be given a dividend of 0.4687 per share by the financial services provider on Monday, November 19th. This represents a dividend yield of 3.87%. The ex-dividend date is Wednesday, November 7th.

IRSA Propiedades Comerciales has a dividend payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect IRSA Propiedades Comerciales to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 36.9%.

NASDAQ:IRCP opened at $23.30 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.27 and a quick ratio of 4.26. The company has a market cap of $763.97 million, a P/E ratio of 1.12 and a beta of 0.30. IRSA Propiedades Comerciales has a fifty-two week low of $22.35 and a fifty-two week high of $60.03.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last released its earnings results on Thursday, August 23rd. The financial services provider reported $4.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.36 by $2.13. The company had revenue of $50.03 million for the quarter. IRSA Propiedades Comerciales had a net margin of 333.56% and a return on equity of 52.00%. As a group, equities analysts forecast that IRSA Propiedades Comerciales will post 1.73 EPS for the current year.

IRCP has been the topic of a number of research reports. JPMorgan Chase & Co. lowered shares of IRSA Propiedades Comerciales from an “overweight” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Wednesday, August 29th. Zacks Investment Research lowered shares of IRSA Propiedades Comerciales from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 24th.

About IRSA Propiedades Comerciales

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.

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