PRO Real Estate Investment Trust (CVE:PRV.UN) Upgraded at Canadian Imperial Bank of Commerce

PRO Real Estate Investment Trust (CVE:PRV.UN) was upgraded by equities research analysts at Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperformer” rating in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a C$7.50 price objective on the stock, up from their prior price objective of C$7.00. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 226.09% from the stock’s previous close.

Several other equities analysts also recently issued reports on PRV.UN. TD upped their price objective on shares of PRO Real Estate Investment Trust from C$7.00 to C$7.50 and gave the company a “buy” rating in a research note on Friday. Raymond James Financial cut their target price on PRO Real Estate Investment Trust from C$7.50 to C$7.25 and set a “market perform” rating on the stock in a research report on Friday. Royal Bank Of Canada boosted their target price on PRO Real Estate Investment Trust from C$7.25 to C$7.50 and gave the company an “outperform” rating in a report on Friday. Finally, Desjardins raised their price target on PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, PRO Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of C$7.07.

PRO Real Estate Investment Trust Price Performance

CVE:PRV.UN traded up C$0.01 during midday trading on Friday, hitting C$2.30. 80,531 shares of the company were exchanged, compared to its average volume of 103,855. The company has a fifty day simple moving average of C$2.30 and a 200 day simple moving average of C$2.30. PRO Real Estate Investment Trust has a fifty-two week low of C$1.80 and a fifty-two week high of C$2.45.

PRO Real Estate Investment Trust Company Profile

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.