Summit Industrial Income REIT (OTCMKTS:SMMCF) Price Target Lowered to C$24.00 at Royal Bank of Canada

Summit Industrial Income REIT (OTCMKTS:SMMCF – Get Rating) had its target price trimmed by Royal Bank of Canada from C$25.00 to C$24.00 in a research report released on Monday, The Fly reports.

Other analysts also recently issued reports about the company. TD Securities decreased their target price on Summit Industrial Income REIT from C$25.00 to C$24.00 in a research report on Thursday, May 12th. Desjardins decreased their target price on Summit Industrial Income REIT from C$25.00 to C$24.00 in a research report on Friday, May 13th. Finally, Canaccord Genuity Group upgraded Summit Industrial Income REIT from a hold rating to a buy rating in a research report on Thursday, May 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $24.17.

Shares of SMMCF stock opened at $14.99 on Monday. The business’s fifty day moving average price is $16.65 and its 200 day moving average price is $17.23. Summit Industrial Income REIT has a 1-year low of $13.19 and a 1-year 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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