The stock of Abacus Property Group (ASX:ABP) hit a new 52-week low and has $2.50 target or 9.00% below today’s $2.75 share price. The 7 months bearish chart indicates high risk for the $1.57 billion company. The 1-year low was reported on Oct, 18 by Barchart.com. If the $2.50 price target is reached, the company will be worth $141.30M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock closed at $2.75 during the last session. It is down 8.94% since March 22, 2016 and is downtrending. It has underperformed by 14.43% the S&P500.
More important recent Abacus Property Group (ASX:ABP) news were published by: Reuters.com which released: “BRIEF-Abacus Property Group to acquire assets in east Australian cities” on October 10, 2016, also Smh.com.Au published article titled: “Abacus Property Group forms $200m partnership”, Reuters.com published: “BRIEF-Abacus Property Group updates on sale of property” on September 29, 2016. More interesting news about Abacus Property Group (ASX:ABP) was released by: Fool.com.Au and their article: “Abacus Property Group declines 10%: Should you buy?” with publication date: September 22, 2014.
Abacus Property Group is a real estate investment. The company has a market cap of $1.57 billion. The principal activities of the Company include investment in office, retail and industrial properties, investment in self-storage facilities, participation in property ventures and developments, and property funds management. It has a 8.21 P/E ratio. The Company’s divisions include Property, Storage, Property Ventures, Funds Management, AHF, ADIFII and AWLF.
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