PRO Real Estate Investment Trust (CVE:PRV.UN) Upgraded to Buy at TD

PRO Real Estate Investment Trust (CVE:PRV.UN) was upgraded by TD from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$7.00 price target on the stock. TD’s price target would suggest a potential upside of 204.35% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce lowered shares of 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 report on Friday, May 15th. Desjardins upped their target price 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. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, PRO Real Estate Investment Trust currently has a consensus rating of “Hold” and a consensus price target of C$6.58.

PRO Real Estate Investment Trust Stock Performance

Shares of PRO Real Estate Investment Trust stock traded up C$0.01 during trading on Thursday, hitting C$2.30. The company’s stock had a trading volume of 80,531 shares, 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 stock has a 50-day moving average price of C$2.30 and a two-hundred day moving average price of 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.