TSX:CHP.UN - Post by User
Post by
retiredcfon Jul 22, 2024 7:19am
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Post# 36142312
Desjardins
Desjardins Desjardins Securities’ Lorne Kalmar increased his Choice Properties Real Estate Investment Trust target to $15.50 from $15. The average is $15.19.
“While 2Q had a bit of noise, the REIT’s core businesses continued to perform well, including 3-per-cent SP NOI [same-property net operating income] growth in its retail portfolio and a nice rebound in industrial SP NOI,” he said. “Looking ahead, we forecast average FFOPU [funds from operations per unit] growth of 4 per cent in 2025/26, as well as steady distribution increases. While CHP’s performance has rebounded, we still see further upside and continue to view the REIT as a high-quality name with a defensive, in-demand portfolio deserving of a premium valuation.”