Summit Industries REIT Un (SMU.UN), the Financial sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. The company received a Hold rating from Desjardins’ analyst Michael Markidis, with a C$10 price target.
According to TipRanks.com, Markidis is ranked #406 out of 5107 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Summit Industries REIT Un with a C$9.88 average price target.
Based on Summit Industries REIT Un’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$13.92 million. In comparison, last year the company had a net profit of C$13.17 million.
Summit Industrial Income REIT is an open-ended mutual fund trust, which engages in growing and managing a portfolio of light industrial properties. Its properties are located in Ontario, Quebec, Alberta, British Columbia, and New Brunswick. The company was founded on November 4, 2005 and is headquartered in Brampton, Canada.
The company’s shares closed on Tuesday at C$9.50, close to its 52-week high of C$9.74.
