Today, shares of Entertainment Properties Trust (NYSE:EPR) have crossed bearishly below their 10-day moving average of $47.36 on a volume of 186K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Entertainment Properties Trust is a real estate investment trust. The Company acquires and develops properties leased to entertainment and entertainment related business operators generally under long-term triple net leases. The Company plans to focus primarily on megaplex theaters and entertainment themed retail centers.
Potential upside of 1.3% exists for Entertainment Properties Trust, based on a current level of $46.63 and analysts' average consensus price target of $47.25. The stock should find initial support at its 50-day moving average (MA) of $46.12 and further support at its 200-day MA of $43.54.
Entertainment Properties Trust share prices have moved between a 52-week high of $50.44 and a 52-week low of $35.71 and are now trading 31% above that low price at $46.63 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.
