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

PRO Real Estate Investment Trust (CVE:PRV.UN) shot up 0.4% during trading on Wednesday . The company traded as high as C$2.30 and last traded at C$2.30. 80,531 shares traded 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 Analysts Forecast Growth

Separately, Raymond James Financial cut PRO Real Estate Investment Trust from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$5.96.

PRO Real Estate Investment Trust Price Performance

The stock 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 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.