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 objective upped 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 firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 226.09% from the company’s current price.

PRV.UN has been the subject of several other reports. Raymond James Financial reduced their price objective on PRO Real Estate Investment Trust from C$7.50 to C$7.25 and set a “market perform” rating for the company in a research note on Friday. TD upgraded PRO Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$7.00 price target for the company in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce cut PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and lifted their price objective for the company from C$6.75 to C$7.00 in a research report on Friday, May 15th. Finally, Desjardins increased their target price on shares of 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 assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$7.07.

PRO Real Estate Investment Trust Stock Up 0.4%

PRV.UN traded up C$0.01 during trading on Friday, 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 one year low of C$1.80 and a one year high of C$2.45. The business’s 50 day simple moving average is C$2.30 and its 200-day simple moving average is 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.