A number of other analysts have also commented on the company. BMO Capital Markets reaffirmed an outperform rating and issued a C$7.00 target price on shares of Pure Industrial Real Estate Trust in a research report on Wednesday, April 19th. Scotiabank boosted their price objective on Pure Industrial Real Estate Trust from C$6.25 to C$6.50 and gave the stock an outperform rating in a report on Thursday, April 6th. Desjardins reissued a buy rating and set a C$6.25 price objective on shares of Pure Industrial Real Estate Trust in a report on Wednesday, March 8th. National Bank Financial reaffirmed an outperform rating and issued a C$6.75 target price on shares of Pure Industrial Real Estate Trust in a report on Thursday, April 6th. Finally, Eight Capital upped their price objective on Pure Industrial Real Estate Trust from C$5.75 to C$6.15 and gave the company a buy rating in a research note on Friday, March 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of C$6.58.
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The company also recently announced a monthly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.026 per share. The ex-dividend date was Monday, May 29th. This represents a $0.31 dividend on an annualized basis and a dividend yield of Infinity.
About Pure Industrial Real Estate Trust
Pure Industrial Real Estate Trust (PIRET) is a Canada-based unincorporated, open-ended investment trust that owns and operates a portfolio of income-producing industrial properties. The Trust’s primary objectives are to generate stable and growing cash distributions from investments in income producing industrial properties in markets across Canada and distribution and logistics markets in the United States; to maximize the long-term value of the properties through active management, and to expand its asset base and increase its distributable income through an accretive acquisition program.
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