PRO Real Estate Investment Trust (CVE:PRV.UN) Stock Price Up 0.4% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD increased their price target on PRO Real Estate Investment Trust from C$7.00 to C$7.50 and gave the stock a “buy” rating in a research report on Friday, August 14th. Canadian Imperial Bank of Commerce raised PRO Real Estate Investment Trust from a “neutral” rating to an “outperformer” rating and upped their target price for the stock from C$7.00 to C$7.50 in a research note on Friday, August 14th. Raymond James Financial decreased 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, August 14th. Desjardins lifted their price target on shares of PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, Royal Bank Of Canada boosted their price target on shares of PRO Real Estate Investment Trust from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$7.45.

PRO Real Estate Investment Trust Stock Up 0.4%

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