True North Commercial Real Estate Investment Trust (OTCMKTS:TUERF) sees big growth in short interest

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True North Commercial Real Estate Investment Trust (OTCMKTS:TUERF – Get Rating) saw a significant spike in short interest in April. As of April 15, there was short interest totaling 125,100 shares, up 44.5% from March 31 of 86,600 shares total. Based on an average daily volume of 1,600 shares, the short interest ratio is currently 78.2 days.

A number of equity analysts recently commented on the stock. National Bank Financial lowered its target price on True North Commercial Real Estate Investment Trust shares to $7.00 from $7.50 in a report Wednesday. The Canaccord Genuity Group has lowered its target price on shares of True North Commercial Real Estate Investment Trust from CAD$7.50 to CAD$7.00 and gave the stock a “hold” rating in a report on Wednesday, April 6th. Five equities research analysts have given the stock a hold rating. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $7.40.

Shares of OTCMKTS TUERF opened at $5.41 on Friday. True North Commercial Real Estate Investment Trust has a 12-month low of $3.86 and a 12-month high of $7.08. The company has a 50-day simple moving average of $5.67 and a 200-day simple moving average of $5.78.

About True North Commercial Real Estate Investment Trust (get rating)

The REIT is an unincorporated open-ended real estate investment trust incorporated under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 48 commercial properties covering approximately 4.8 million square feet in urban and select strategic secondary markets throughout Canada, with a focus on long-term leases with government and credit-worthy tenants.

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