TSX:HOM.DB.U - Post by User
Post by
retiredcfon Aug 15, 2023 8:47am
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Post# 35588569
Desjardins
Desjardins Desjardins Securities’ Kyle Stanley lowered his target for BSR Real Estate Investment Trust to US$17 from US$18 with a “buy” recommendation. The average is US$17.63.
“We have reduced our target ...after lowering our target multiple in light of moderating organic growth in 2H23,” said Mr. Stanley. “Despite some near-term supply headwinds impacting fundamentals across the Sun Belt, we expect BSR to generate 7-per-cent annualized FFOPU [funds from operations per unit] growth through 2025 while trading at a 1.5 turn lower FFO multiple and deep NAV discount (35 per cent) vs U.S. Sun Belt peers (21-per-cent NAV discount).”