Summit Industrial Income REIT (TSE:SMU.UN) Receives Average Recommendation of “Buy” from Brokerages

Shares of Summit Industrial Income REIT (TSE:SMU.UNGet Rating) have been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$23.75.

Separately, Raymond James reaffirmed an “outperform” rating and set a C$25.00 target price on shares of Summit Industrial Income REIT in a research note on Thursday, February 17th.

Summit Industrial Income REIT stock traded up C$0.17 during mid-day trading on Friday, reaching C$20.89. 71,934 shares of the company traded hands, compared to its average volume of 724,757. The company has a debt-to-equity ratio of 42.05, a current ratio of 0.23 and a quick ratio of 0.13. Summit Industrial Income REIT has a 52-week low of C$14.77 and a 52-week high of C$24.01. The firm has a market capitalization of C$3.96 billion and a price-to-earnings ratio of 3.12. The firm’s 50 day moving average price is C$21.98 and its 200 day moving average price is C$22.15.

The firm also recently announced a monthly dividend, which will be paid on Friday, April 15th. Stockholders of record on Friday, April 15th will be issued a dividend of $0.047 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Wednesday, March 30th. Summit Industrial Income REIT’s dividend payout ratio (DPR) is presently 8.38%.

Summit Industrial Income REIT Company Profile (Get Rating)

Summit Industrial Income REIT is an unincorporated open-end trust 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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Analyst Recommendations for Summit Industrial Income REIT (TSE:SMU.UN)

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