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

PRO Real Estate Investment Trust (CVE:PRV.UN)’s share price shot up 0.4% on Monday . The company traded as high as C$2.30 and last traded at C$2.30. 80,531 shares changed 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.

Wall Street Analysts Forecast Growth

PRV.UN has been the topic of several recent research reports. TD upgraded shares of PRO Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$7.00 target price on the stock in a research report on Thursday, June 11th. Desjardins lifted their price target on PRO Real Estate Investment Trust from C$6.50 to C$6.75 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. 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 note 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 objective for the company from C$6.75 to C$7.00 in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$6.68.

PRO Real Estate Investment Trust Trading Up 0.4%

The company has a fifty day moving average of C$2.30 and a two-hundred day moving average of C$2.30.

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.