Brokerage firm Morgan Stanley Downgrades its rating on Irsa Inversiones y Rprsntcins SA (ADR)(NYSE:IRS). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jul 21, 2016.
Irsa Inversiones y Rprsntcins SA (ADR) (IRS) shares turned negative on Wednesdays trading session with the shares closing down -0.29 points or -1.53% at a volume of 29,975. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19. The peak price level was also seen at $19 while the days lowest was $18.195. Finally the shares closed at $18.61. The 52-week high of the shares is $19.25 while the 52-week low is $8.09. According to the latest information available, the market cap of the company is $1,077 M.
Irsa Inversiones y Representaciones Sociedad Anonima (IRSA) is a real estate company. The Company is engaged directly and indirectly through subsidiaries and joint ventures in a range of diversified real estate related activities in Argentina including the acquisition development and operation of shopping centers; the development and sale of residential properties; the acquisition and development of office and other non-shopping center properties primarily for rental purposes; the acquisition and operation of luxury hotels; the acquisition of undeveloped land reserves for future development or sale and selected real estate investments outside Argentina. The Company operates in six segments: Shopping Centers Office and Other Rentals Development and Sale of Properties Hotels International and Financial Operations and Others.