Summit Industrial Income REIT (OTCMKTS:SMMCF) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.65.
Several research analysts recently weighed in on the company. CIBC upped their price target on Summit Industrial Income REIT from $14.25 to $15.00 and gave the company a “neutral” rating in a research report on Friday, February 19th. Raymond James started coverage on Summit Industrial Income REIT in a research report on Wednesday, March 24th. They issued an “outperform” rating on the stock. Royal Bank of Canada upped their target price on Summit Industrial Income REIT from $14.50 to $15.50 and gave the stock a “sector perform” rating in a research report on Friday, February 19th. Finally, Scotiabank upped their target price on Summit Industrial Income REIT from $14.25 to $15.50 and gave the stock an “outperform” rating in a research report on Tuesday, February 23rd.
OTCMKTS:SMMCF remained flat at $$11.46 during trading hours on Monday. Summit Industrial Income REIT has a 1-year low of $5.55 and a 1-year high of $11.46. The company has a 50 day simple moving average of $10.86 and a two-hundred day simple moving average of $10.36.
Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. Summit II's units are listed on the TSX and trade under the symbol SMU.UN.
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