PRO Real Estate Investment Trust (CVE:PRV.UN) Given New C$7.25 Price Target at Raymond James Financial

PRO Real Estate Investment Trust (CVE:PRV.UN) had its price target cut by investment analysts at Raymond James Financial from C$7.50 to C$7.25 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial’s price objective would indicate a potential upside of 215.22% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Desjardins boosted their price target on PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the company a “buy” rating in a report on Friday. TD upgraded PRO Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$7.00 price objective for the company in a report on Thursday, June 11th. Royal Bank Of Canada set a C$7.25 price objective on PRO Real Estate Investment Trust and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. Finally, Canadian Imperial Bank of Commerce cut PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and boosted their target price for the company from C$6.75 to C$7.00 in a research note on Friday, May 15th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.07.

PRO Real Estate Investment Trust Stock Performance

Shares of CVE:PRV.UN traded up C$0.01 during midday trading on Friday, hitting C$2.30. 80,531 shares of the stock traded hands, compared to its average volume of 103,855. The business’s 50 day moving average is C$2.30 and its two-hundred day moving average is C$2.30. PRO Real Estate Investment Trust has a one year low of C$1.80 and a one year 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.