Summit Industrial Income REIT Unit SMMCF

CIBC Revised Targets

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CIBC World Markets analyst Scott Fromson, Sumayya Syed, Dean Wilkinson reduced their target prices for real estate equities on Monday.

Their changes included:

• Allied Properties Real Estate Investment Trust ( “outperformer”) to $47.50 from $50. The average on the Street is $49.35.
• American Hotel Income Properties REIT (
  increase
   
  , “neutral”) to US$3.80 from US$4. Average: US$3.84.
• Automotive Properties REIT ( “neutral”) to $14.25 from $15. Average: $14.76.
• Boardwalk REIT ( “neutral”) to $58 from $60. Average: $60.95.
• Brookfield Asset Management Inc. ( “outperformer”) to US$68 from US$75. Average: US$70.55.
• CAP REIT (“neutral”) to $55 from $60. Average: US$63.22.
• Chartwell Retirement Residences ( “outperformer”) to $14.25 from $15. Average: $14.38.
• Colliers International Group Inc. ( “outperformer”) to US$150 from US$170. Average: US$162.
• Crombie REIT ( “outperformer”) to $18.25 from $19. Average: $19.42.
• CT REIT ( “neutral”) to $18 from $19. Average: $18.79.
• Dream Industrial REIT ( “outperformer”) to $17 from $18. Average: $18.44.
• Dream Office REIT ( “outperformer”) to $27 from $28.50. Average: $27.08.
• Dream Unlimited Corp. ( “outperformer”) to $53 from $56. Average: $55.33.
• European Residential REIT ( “outperformer”) to $5.35 from $6. Average: $5.74.
• Extendicare Inc. ( “neutral”) to $8 from $8.50. Average: $8.15.
• First Capital REIT ( “outperformer”) to $19.50 from $21. Average: $20.54.
• FirstService Corp. ( “neutral”) to US$140 from US$145. Average: US$160.
• Granite REIT ( “outperformer”) to $102 from $106. Average: $107.90.
• H&R REIT ( “outperformer”) to $16.50 from $17.50. Average: $17.07.
• InterRent REIT ( “neutral”) to $15.50 from $17. Average: $18.15.
• Killam Apartment REIT ( “outperformer”) to $22.50 from $25. Average: $24.10.
• Minto Apartment REIT ( “outperformer”) to $23 from $24.50. Average: $25.05.
• Morguard Corp. (“outperformer”) to $150 from $165. Average: $180.
• Morguard North American Residential REIT ( “outperformer”) to $21.75 from $23. Average: $21.70.
• Northwest Healthcare Properties REIT ( “outperformer”) to $14.75 from $15.50. Average: $15.22.
• Pro REIT ( “outperformer”) to $7.75 from $8.25. Average: $7.93.
• RioCan REIT ( “outperformer”) to $25 from $26.50. Average: $26.25.
• Sienna Senior Living Inc. (“neutral”) to $15.75 from $16.75. Average: $16.69.
• Slate Office REIT ( “neutral”) to $5 from $5.25. Average: $5.19.
• SmartCentres REIT ( “outperformer”) to $32.75 from $34.50. Average: $33.
• Storagevault Canada Inc. ( “outperformer”) to $7 from $8. Average: $7.86.
• Summit Industrial Income REIT ( “neutral”) to $21 from $22.50. Average: $23.65.
• Tricon Residential Inc. ( “outperformer”) to $20.50 from $22. Average: $20.35.
• True North Commercial REIT ( “neutral”) to $6.75 from $7. Average: $6.95.