In a report issued on November 11, Frederic Blondeau from Echelon Wealth Partners maintained a Buy rating on Cominar Real Estate Investment (CMLEF), with a price target of C$14.50. The company’s shares closed last Monday at $10.72, equals to its 52-week high of $10.72.
According to TipRanks.com, Blondeau is a 3-star analyst with an average return of 3.8% and a 62.5% success rate. Blondeau covers the Financial sector, focusing on stocks such as Allied Properties Real Estate Investment Trust, Dream Global Real Estate Investment, and Northview Apartment REIT.
Currently, the analyst consensus on Cominar Real Estate Investment is a Strong Buy with an average price target of $11.14, a 3.9% upside from current levels. In a report issued on November 11, TD Securities also upgraded the stock to Buy.
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Based on Cominar Real Estate Investment’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $38.47 million. In comparison, last year the company had a net profit of $49.46 million.
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Cominar Real Estate Investment Trust is a closed-end investment trust, which owns and manage commercial properties. It operates through the following segments: Office Properties, Retail Properties, Industrial and Mixed-Use Properties, and Cominar’s Proportionate Share. The company was founded by Jules Dallaire in 1998 and is headquartered in Quebec, Canada.
