Summit Industrial Income REIT (OTCMKTS:SMMCF) Given New C$24.00 Price Target at Desjardins

Summit Industrial Income REIT (OTCMKTS:SMMCFGet Rating) had its price objective reduced by Desjardins from C$25.00 to C$24.00 in a research note released on Friday, The Fly reports.

Several other analysts have also recently weighed in on the company. TD Securities dropped their price target on Summit Industrial Income REIT from C$25.00 to C$24.00 in a report on Thursday. Royal Bank of Canada dropped their price target on Summit Industrial Income REIT from C$25.50 to C$25.00 in a report on Wednesday, February 23rd. Finally, Canaccord Genuity Group raised Summit Industrial Income REIT from a hold rating to a buy rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $24.50.

OTCMKTS:SMMCF remained flat at $$14.24 during mid-day trading on Friday. The firm has a 50 day simple moving average of $16.85 and a 200-day simple moving average of $17.36. Summit Industrial Income REIT has a 12 month low of $13.01 and a 12 month high of $19.38.

Summit Industrial Income REIT Company Profile (Get Rating)

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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