Summit Industrial Income REIT (OTCMKTS:SMMCF) Receives $13.25 Average Price Target from Analysts

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Shares of Summit Industrial Income REIT (OTCMKTS:SMMCF) have been given a consensus rating of “Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $13.25.

A number of research firms have recently commented on SMMCF. Scotiabank raised their price objective on shares of Summit Industrial Income REIT from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. BMO Capital Markets lifted their price target on shares of Summit Industrial Income REIT from $11.75 to $13.75 and gave the stock an “outperform” rating in a research note on Monday, August 17th. CIBC lifted their target price on shares of Summit Industrial Income REIT from $11.25 to $12.75 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Finally, Royal Bank of Canada lifted their target price on shares of Summit Industrial Income REIT from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, August 17th.

OTCMKTS SMMCF remained flat at $$9.08 during trading hours on Wednesday. Summit Industrial Income REIT has a 1 year low of $5.01 and a 1 year high of $10.51. The company’s 50 day moving average price is $9.05 and its 200 day moving average price is $7.88.

About Summit Industrial Income REIT

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 (OTCMKTS:SMMCF)

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