The Non-Executive of Summit Industrial Income REIT (Other OTC: SMMCF) is Buying Shares

By Carrie Williams

Today, the Non-Executive of Summit Industrial Income REIT (SMMCFResearch Report), Lawrence Morassutti, bought shares of SMMCF for $234K.

This recent transaction increases Lawrence Morassutti’s holding in the company by 1% to a total of $35.38 million. In addition to Lawrence Morassutti, one other SMMCF executive reported Buy trades in the last month.

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Based on Summit Industrial Income REIT’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $46.51 million and quarterly net profit of $42.95 million. In comparison, last year the company earned revenue of $34.08 million and had a GAAP net loss of $38.06 million. The company has a one-year high of $10.51 and a one-year low of $5.01. Currently, Summit Industrial Income REIT has an average volume of .

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $9.85, reflecting a -100.0% downside.

The insider sentiment on Summit Industrial Income REIT has been positive according to 100 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Summit Industrial Income REIT is an open-ended mutual fund trust, which engages in growing and managing a portfolio of light industrial properties. Its properties are located in Ontario, Quebec, Alberta, British Columbia, and New Brunswick. The company was founded on November 4, 2005 and is headquartered in Brampton, Canada.