PRO Real Estate Investment Trust (CVE:PRV.UN) Downgraded by Canadian Imperial Bank of Commerce to “Neutral”

Canadian Imperial Bank of Commerce downgraded shares of PRO Real Estate Investment Trust (CVE:PRV.UN) from an outperformer rating to a neutral rating in a research report report published on Friday morning,BayStreet.CA reports. Canadian Imperial Bank of Commerce currently has C$7.00 target price on the stock, up from their prior target price of C$6.75.

PRO Real Estate Investment Trust Trading Up 0.4%

PRV.UN stock opened at C$2.30 on Friday. The firm has a 50 day moving average price of C$2.30 and a 200-day moving average price of C$2.30. PRO Real Estate Investment Trust has a 52-week low of C$1.80 and a 52-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.