PRO Real Estate Investment Trust (CVE:PRV.UN) Trading Up 0.4% – Here’s Why

Shares of PRO Real Estate Investment Trust (CVE:PRV.UN) rose 0.4% during trading on Monday . The stock traded as high as C$2.30 and last traded at C$2.30. 80,531 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 103,855 shares. The stock had previously closed at C$2.29.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Desjardins boosted their price target on shares of PRO Real Estate Investment Trust from C$6.50 to C$6.75 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. TD upgraded PRO Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$7.00 price objective on the stock in a research note on Thursday, June 11th. Royal Bank Of Canada set a C$7.25 target price on PRO Real Estate Investment Trust and gave the company an “outperform” rating in a report on Wednesday, June 24th. Finally, Canadian Imperial Bank of Commerce downgraded PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and upped their price target for the stock from C$6.75 to C$7.00 in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$6.68.

PRO Real Estate Investment Trust Price Performance

The stock’s 50-day simple moving average is C$2.30 and its 200 day simple moving average is C$2.30.

About PRO Real Estate Investment Trust

PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 84 commercial properties across Canada representing over 3.7 million square feet of gross leasable area. Established in 2013, PROREIT is mainly focused on strong secondary markets in Quebec, Atlantic Canada and Ontario, with selective exposure in Western Canada.