Summit Industrial Income REIT (OTCMKTS:SMMCF) had its price objective increased by stock analysts at Scotiabank from $14.25 to $15.50 in a report released on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 40.44% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets upped their price target on Summit Industrial Income REIT from $13.75 to $14.25 and gave the stock an “outperform” rating in a report on Wednesday, November 18th. Royal Bank of Canada raised their price target on Summit Industrial Income REIT from $14.50 to $15.50 and gave the company a “sector perform” rating in a research report on Friday. Finally, CIBC boosted their price objective on shares of Summit Industrial Income REIT from $14.25 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.65.
Shares of SMMCF stock remained flat at $$11.04 during mid-day trading on Tuesday. 100 shares of the stock traded hands, compared to its average volume of 1,114. Summit Industrial Income REIT has a one year low of $5.01 and a one year high of $11.04. The company has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $9.97.
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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