CIBC Reiterates Their Buy Rating on Pure Industrial

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Pure Industrial (TSX: AAR.UN). CIBC’s analyst Dean Wilkinson reiterates their Buy rating on the shares, with a C$7 price target.

Wilkinson has an average return of 23.5% when recommending Pure Industrial.

According to TipRanks.com, Wilkinson is ranked #637 out of 4629 analysts.

Currently, the analyst consensus on Pure Industrial is Strong Buy and the average price target is C$7, representing a 9.7% upside.

In a report issued on August 3, Desjardins also reiterated a Buy rating on the stock with a C$7 price target.

Based on Pure Industrial’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$53.57 million and quarterly net profit of C$81.03 million. In comparison, last year the company earned revenue of C$45.3 million and had a net profit of C$20.99 million.

Pure Industrial Real Estate Trust operates as an open-ended real estate investment trust, which engages in property acquisition, financing, and management. Its portfolio include commercial and industrial buildings. The company was founded by Stephen J. Evans and Darren T. Latoski on June 24, 2007 and is headquartered in Vancouver, Canada.

The company’s shares closed on Friday at C$6.38.