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

PRO Real Estate Investment Trust (CVE:PRV.UN)’s share price traded up 0.4% during trading on Thursday. The company traded as high as C$2.30 and last traded at C$2.30. 80,531 shares changed hands 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 Analyst Weigh In

Several brokerages have issued reports on PRV.UN. Desjardins set a C$7.50 price target on PRO Real Estate Investment Trust and gave the stock a “buy” rating in a report on Thursday, October 1st. TD upped their target price 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 upgraded PRO Real Estate Investment Trust from a “neutral” rating to an “outperformer” rating and increased their target price for the stock from C$7.00 to C$7.50 in a report on Friday, August 14th. Royal Bank Of Canada increased their target price on 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. Finally, Raymond James Financial reduced 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 for the company in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$7.45.

PRO Real Estate Investment Trust Stock Performance

The business has a 50 day simple moving average of C$2.30 and a 200-day simple moving average 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.