Raymond James Financial Has Lowered Expectations for PRO Real Estate Investment Trust (CVE:PRV.UN) Stock Price

PRO Real Estate Investment Trust (CVE:PRV.UN) had its price target dropped by research analysts at Raymond James Financial from C$7.50 to C$7.25 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s price objective would indicate a potential upside of 215.22% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Desjardins boosted their target price 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. TD upgraded shares of 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 note on Thursday, June 11th. Canadian Imperial Bank of Commerce cut shares of PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and lifted their price target for the company from C$6.75 to C$7.00 in a research report on Friday, May 15th. Finally, Royal Bank Of Canada set a C$7.25 price objective on shares of PRO Real Estate Investment Trust and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.07.

PRO Real Estate Investment Trust Price Performance

PRV.UN stock traded up C$0.01 during midday trading on Friday, hitting C$2.30. The stock had a trading volume of 80,531 shares, compared to its average volume of 103,855. The business has a 50-day moving average of C$2.30 and a two-hundred day 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.

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.