PRO Real Estate Investment Trust (CVE:PRV.UN) Downgraded by Canadian Imperial Bank of Commerce to Neutral

PRO Real Estate Investment Trust (CVE:PRV.UN) was downgraded by equities researchers at Canadian Imperial Bank of Commerce from an “outperformer” rating to a “neutral” rating in a research report issued on Friday,BayStreet.CA reports. They currently have a C$7.00 target price on the stock, up from their previous target price of C$6.75. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 204.35% from the stock’s current price.

PRO Real Estate Investment Trust Stock Up 0.4%

Shares of PRV.UN stock traded up C$0.01 during trading hours on Friday, reaching C$2.30. The stock had a trading volume of 80,531 shares, compared to its average volume of 103,855. PRO Real Estate Investment Trust has a twelve month low of C$1.80 and a twelve month high of C$2.45. The firm 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.