Summit Industrial Income REIT (TSE:SMU.UN) Coverage Initiated at National Bankshares

Research analysts at National Bankshares started coverage on shares of Summit Industrial Income REIT (TSE:SMU.UN) in a note issued to investors on Thursday, TipRanks reports. The brokerage set a “buy” rating and a C$24.00 price target on the stock. National Bankshares’ price objective suggests a potential upside of 12.25% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of Summit Industrial Income REIT to C$23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 18th. TD Securities reaffirmed a “buy” rating and issued a C$24.00 price objective on shares of Summit Industrial Income REIT in a research report on Wednesday. CIBC increased their target price on shares of Summit Industrial Income REIT to C$21.50 and gave the company a “neutral” rating in a research report on Thursday, August 12th. Raymond James increased their target price on shares of Summit Industrial Income REIT to C$23.00 and gave the company an “outperform” rating in a research report on Thursday, August 12th. Finally, National Bank Financial increased their target price on shares of Summit Industrial Income REIT to C$22.50 and gave the company an “outperform” rating in a research report on Thursday, August 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$22.06.

Shares of SMU.UN stock opened at C$21.38 on Thursday. Summit Industrial Income REIT has a 52-week low of C$12.37 and a 52-week high of C$21.94. The company has a debt-to-equity ratio of 51.27, a quick ratio of 0.14 and a current ratio of 0.25. The company has a 50-day simple moving average of C$20.65 and a two-hundred day simple moving average of C$17.62. The company has a market capitalization of C$3.74 billion and a price-to-earnings ratio of 3.85.

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 (TSE:SMU.UN)

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