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

Shares of 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 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.

Analysts Set New Price Targets

Separately, Raymond James Financial lowered PRO Real Estate Investment Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, PRO Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus target price of C$5.96.

PRO Real Estate Investment Trust Stock Performance

The stock has a 50 day moving average price of C$2.30 and a 200 day moving average price 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.