PRO Real Estate Investment Trust (CVE:PRV.UN) Stock Price Up 0.4% – Here’s What Happened

PRO Real Estate Investment Trust (CVE:PRV.UN) shares shot up 0.4% on Friday . The stock traded as high as C$2.30 and last traded at C$2.30. Approximately 80,531 shares changed hands during 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 Analyst Weigh In

A number of equities analysts recently weighed in on PRV.UN shares. Canadian Imperial Bank of Commerce upgraded shares of PRO Real Estate Investment Trust from a “neutral” rating to an “outperformer” rating and boosted their price objective for the stock from C$7.00 to C$7.50 in a report on Friday, August 14th. TD increased their target price on PRO Real Estate Investment Trust from C$7.00 to C$7.50 and gave the company a “buy” rating in a research note on Friday, August 14th. Royal Bank Of Canada lifted their target price on PRO Real Estate Investment Trust from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a report on Friday, August 14th. Raymond James Financial decreased their price target on PRO Real Estate Investment Trust from C$7.50 to C$7.25 and set a “market perform” rating for the company in a research note on Friday, August 14th. Finally, Desjardins upped their price target on 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 given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$7.45.

PRO Real Estate Investment Trust Stock Performance

The company’s 50-day moving average price is C$2.30 and its 200 day moving average price is 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.