CIBC Forecasts Strong Price Appreciation for PRO Real Estate Investment Trust (CVE:PRV.UN) Stock

PRO Real Estate Investment Trust (CVE:PRV.UN) had its target price hoisted by CIBC from C$6.25 to C$6.50 in a research note released on Friday morning,BayStreet.CA reports.

PRO Real Estate Investment Trust Trading Up 0.4 %

Shares of PRV.UN stock traded up C$0.01 during trading hours on Friday, hitting C$2.30. 80,531 shares of the company’s stock were exchanged, compared to its average volume of 103,855. PRO Real Estate Investment Trust has a 12-month low of C$1.80 and a 12-month high of C$2.45. 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 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.