Summit Industrial Income REIT (OTCMKTS:SMMCF) Short Interest Down 27.9% in April

Summit Industrial Income REIT (OTCMKTS:SMMCF – Get Rating) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 376,800 shares, a drop of 27.9% from the April 15th total of 522,900 shares. Based on an average trading volume of 300 shares, the short-interest ratio is currently 1,256.0 days.

SMMCF has been the subject of a number of research analyst reports. Raymond James lowered their target price on Summit Industrial Income REIT from C$25.00 to C$23.00 in a report on Monday. Desjardins cut their target price on shares of Summit Industrial Income REIT from C$25.00 to C$24.00 in a research note on Friday. TD Securities decreased their price target on shares of Summit Industrial Income REIT from C$25.00 to C$24.00 in a research note on Thursday, May 12th. Canaccord Genuity Group raised shares of Summit Industrial Income REIT from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Finally, Royal Bank of Canada reduced their target price on Summit Industrial Income REIT from C$25.00 to C$24.00 in a research note on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $24.17.

OTCMKTS SMMCF remained flat at $$14.24 during trading hours on Tuesday. The business has a 50 day moving average of $16.79 and a two-hundred day moving average of $17.30. Summit Industrial Income REIT has a 52-week low of $13.01 and a 52-week high of $19.38.

About Summit Industrial Income REIT (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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