Summit Industrial Income REIT (OTCMKTS:SMMCF) Given Consensus Rating of “Hold” by Analysts

Summit Industrial Income REIT (OTCMKTS:SMMCF) has earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $12.45.

SMMCF has been the topic of several research analyst reports. Canaccord Genuity downgraded Summit Industrial Income REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Royal Bank of Canada dropped their price objective on Summit Industrial Income REIT from $14.50 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 14th. Scotiabank dropped their price objective on Summit Industrial Income REIT from $14.75 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Finally, CIBC dropped their price objective on Summit Industrial Income REIT from $11.50 to $11.25 and set a “neutral” rating on the stock in a research note on Thursday, May 14th.

Summit Industrial Income REIT stock traded down $0.14 during mid-day trading on Monday, hitting $8.33. 200 shares of the company’s stock were exchanged, compared to its average volume of 1,011. Summit Industrial Income REIT has a fifty-two week low of $5.01 and a fifty-two week high of $10.51. The company’s 50 day simple moving average is $7.16 and its 200-day simple moving average is $8.33.

Summit Industrial Income REIT Company Profile

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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