Desjardins Forecasts Strong Price Appreciation for PRO Real Estate Investment Trust (CVE:PRV.UN) Stock

PRO Real Estate Investment Trust (CVE:PRV.UN) had its target price lifted by stock analysts at Desjardins from C$6.50 to C$6.75 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential upside of 193.48% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. TD increased their price objective on PRO Real Estate Investment Trust from C$6.50 to C$7.00 and gave the company a “hold” rating in a research report on Friday. Canadian Imperial Bank of Commerce lowered PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and increased their target price for the company from C$6.75 to C$7.00 in a report on Friday. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$6.58.

PRO Real Estate Investment Trust Price Performance

Shares of CVE:PRV.UN traded up C$0.01 on Tuesday, reaching 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 fifty-two week low of C$1.80 and a fifty-two week high of C$2.45. The company’s 50 day moving average is C$2.30 and its 200-day 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.