Royal Bank of Canada Increases Summit Industrial Income REIT (OTCMKTS:SMMCF) Price Target to C$23.50

Summit Industrial Income REIT (OTCMKTS:SMMCFGet Rating) had its price target lifted by equities researchers at Royal Bank of Canada from C$21.50 to C$23.50 in a report issued on Wednesday, The Fly reports.

SMMCF has been the topic of several other reports. Desjardins downgraded Summit Industrial Income REIT to a “buy” rating in a report on Tuesday, November 8th. Raymond James downgraded Summit Industrial Income REIT from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 8th. Canaccord Genuity Group downgraded Summit Industrial Income REIT from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$22.00 to C$23.50 in a report on Tuesday, November 8th. TD Securities boosted their price objective on Summit Industrial Income REIT from C$19.50 to C$22.00 in a research note on Thursday, August 11th. Finally, Scotiabank dropped their price objective on Summit Industrial Income REIT from C$22.00 to C$21.50 in a research note on Friday, October 28th.

Summit Industrial Income REIT Price Performance

Shares of SMMCF opened at $16.81 on Wednesday. Summit Industrial Income REIT has a 12 month low of $11.84 and a 12 month high of $18.83. The stock’s 50-day moving average price is $13.87 and its two-hundred day moving average price is $14.03.

Summit Industrial Income REIT Company Profile

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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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