Royal Bank Of Canada Forecasts Strong Price Appreciation for PRO Real Estate Investment Trust (CVE:PRV.UN) Stock

PRO Real Estate Investment Trust (CVE:PRV.UN) had its price target increased by equities researchers at Royal Bank Of Canada from C$7.25 to C$7.50 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 226.09% from the company’s current price.

Several other research firms have also recently weighed in on PRV.UN. TD raised shares of PRO Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$7.00 target price for the company in a research note on Thursday, June 11th. Raymond James Financial decreased their price target on shares of 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 note on Friday. Canadian Imperial Bank of Commerce downgraded shares of PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and increased their price objective for the company from C$6.75 to C$7.00 in a report on Friday, May 15th. Finally, Desjardins lifted their target price on PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the stock a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$7.07.

PRO Real Estate Investment Trust Trading Up 0.4%

Shares of PRO Real Estate Investment Trust stock traded up C$0.01 on Friday, hitting C$2.30. 80,531 shares of the company traded hands, compared to its average volume of 103,855. PRO Real Estate Investment Trust has a 52 week low of C$1.80 and a 52 week high of C$2.45. The business has a 50-day simple moving average of C$2.30 and a 200 day simple 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.