Summit Industrial Income REIT (SMU.UN) Announces Monthly Dividend of $0.04

Summit Industrial Income REIT (TSE:SMU.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.043 per share on Wednesday, May 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Monday, April 29th.

SMU.UN opened at C$11.63 on Friday.

A number of analysts have recently commented on SMU.UN shares. Royal Bank of Canada lifted their target price on Summit Industrial Income REIT from C$9.50 to C$11.50 and gave the stock a “sector perform” rating in a research report on Monday, February 25th. CIBC lifted their target price on Summit Industrial Income REIT from C$10.00 to C$11.00 and gave the stock a “neutral” rating in a research report on Friday, February 22nd. National Bank Financial lifted their target price on Summit Industrial Income REIT from C$10.75 to C$11.00 and gave the stock a “sector perform” rating in a research report on Friday, February 22nd. BMO Capital Markets lifted their target price on Summit Industrial Income REIT from C$10.00 to C$11.50 and gave the stock an “average” rating in a research report on Tuesday, February 26th. Finally, Desjardins lifted their target price on Summit Industrial Income REIT from C$11.50 to C$12.00 in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating, Summit Industrial Income REIT has a consensus rating of “Hold” and a consensus target price of C$11.65.

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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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