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

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

PRV.UN has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce downgraded shares of PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and boosted their target price for the stock from C$6.75 to C$7.00 in a research report on Friday, May 15th. Desjardins boosted their price target on shares of PRO Real Estate Investment Trust from C$6.50 to C$6.75 and gave the company a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$6.58.

PRO Real Estate Investment Trust Trading Up 0.4%

CVE:PRV.UN traded up C$0.01 during mid-day trading on Thursday, hitting C$2.30. The stock had a trading volume of 80,531 shares, compared to its average volume of 103,855. The company has a 50 day simple moving average of C$2.30 and a 200-day simple moving average of C$2.30. PRO Real Estate Investment Trust has a 52 week low of C$1.80 and a 52 week high of C$2.45.

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.