TSX:REI.UN - Post by User
Comment by
hroark7on May 14, 2024 9:48pm
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Post# 36040157
RE:Scotia comments after conference
RE:Scotia comments after conferenceThanks for the find, incomedreamer11.
On a surface level, Scotia is right in that RioCan will hit their target income range this year. And next year because they have about $800 million in completed condos to that will be sold that money is going to bring down their debt massively. Everything is going according to plan and it's a fantastic plan.
The only thing that's not factored in at this point is where interest rates will be at, and at this point, Scotia is discounting a fantastic performance from a compnay that owns an amazing portfolio of properties (this part they do acknowledge).
Basically they're saying they don't forsee some GME-like even that will push the stock higher in the short term, as measured by 3-6 months and they're right.
I'd love for the stock to stay at these levels for the next 6 months, or even longer, and keep on accumulating. In fact if they can hold here for the next few years I would be happy to accumulate a lot more. So I personally hope they are right.