PRO Real Estate Investment Trust (CVE:PRV.UN) Trading 0.4% Higher – Should You Buy?

Shares of PRO Real Estate Investment Trust (CVE:PRV.UN) shot up 0.4% on Friday . The company traded as high as C$2.30 and last traded at C$2.30. 80,531 shares changed hands during trading, a decline of 22% from the average daily volume of 103,855 shares. The stock had previously closed at C$2.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRV.UN. Canadian Imperial Bank of Commerce raised shares of PRO Real Estate Investment Trust from a “neutral” rating to an “outperformer” rating and increased their price objective for the stock from C$7.00 to C$7.50 in a research note on Friday, August 14th. Royal Bank Of Canada upped their price objective on PRO Real Estate Investment Trust from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Raymond James Financial decreased their target price on 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, August 14th. TD upped their price target on PRO Real Estate Investment Trust from C$7.00 to C$7.50 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Desjardins increased their price objective on shares of PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the company a “buy” rating in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, PRO Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average target price of C$7.45.

PRO Real Estate Investment Trust Trading Up 0.4%

The company has a fifty day moving average of C$2.30 and a two-hundred day 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.