PRO Real Estate Investment Trust (CVE:PRV.UN) Stock Rating Lowered by Canadian Imperial Bank of Commerce

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

PRO Real Estate Investment Trust Stock Performance

Shares of PRV.UN stock traded up C$0.01 during trading on Friday, hitting C$2.30. 80,531 shares of the company were exchanged, compared to its average volume of 103,855. The business’s 50-day simple moving average is C$2.30 and its 200 day simple moving average is C$2.30. PRO Real Estate Investment Trust has a twelve month low of C$1.80 and a twelve month 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.