Summit Industrial Income REIT (OTCMKTS:SMMCF) Receives Average Rating of “Hold” from Analysts

Summit Industrial Income REIT (OTCMKTS:SMMCF) has earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $12.45.

Several equities research analysts have recently commented on SMMCF shares. Canaccord Genuity downgraded shares of Summit Industrial Income REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Royal Bank of Canada lowered their price objective on shares of Summit Industrial Income REIT from $14.50 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 14th. Scotiabank lowered their price objective on shares of Summit Industrial Income REIT from $14.75 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, CIBC decreased their target price on shares of Summit Industrial Income REIT from $11.50 to $11.25 and set a “neutral” rating for the company in a research report on Thursday, May 14th.

Shares of OTCMKTS:SMMCF remained flat at $$8.46 on Friday. 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 simple moving average is $7.79 and its 200 day simple moving average is $8.21.

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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Summit Industrial Income REIT (OTCMKTS:SMMCF)

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