Summit Industrial Income REIT (TSE:SMU.UN) Given “Buy” Rating at TD Securities

TD Securities reissued their buy rating on shares of Summit Industrial Income REIT (TSE:SMU.UN) in a research report report published on Wednesday, PriceTargets.com reports. TD Securities currently has a C$24.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada lifted 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. CIBC lifted their price objective on shares of Summit Industrial Income REIT to C$21.50 and gave the stock a neutral rating in a research report on Thursday, August 12th. Raymond James lifted their target price on Summit Industrial Income REIT to C$23.00 and gave the stock an outperform rating in a report on Thursday, August 12th. Finally, National Bank Financial lifted their target price on Summit Industrial Income REIT to C$22.50 and gave the stock an outperform rating in a report on Thursday, August 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and an average price target of C$22.06.

SMU.UN stock opened at C$21.38 on Wednesday. The company has a debt-to-equity ratio of 51.27, a current ratio of 0.25 and a quick ratio of 0.14. The company has a fifty day moving average price of C$20.65 and a two-hundred day moving average price of C$17.64. Summit Industrial Income REIT has a one year low of C$12.37 and a one year high of C$21.94. The stock has a market cap of C$3.74 billion and a price-to-earnings ratio of 3.85.

The company also recently announced a monthly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, August 13th were issued a dividend of $0.047 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, July 29th. Summit Industrial Income REIT’s dividend payout ratio is currently 9.80%.

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 (TSE:SMU.UN)

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