TSX:HOM.DB.U - Post Discussion
Post by
retiredcf on Aug 18, 2021 1:15pm
Another Upgrade
Scotia’s Himanshu Gupta hikes his BSR Real Estate Investment Trust target to US$17 from US$14.50, topping the US$16.02 average, with a “sector perform” rating.
“BSR unit price is up 38 per cent year-to-date and now largely trading at our NAVPU of $15.55, with implied cap rate of 4.5 per cent,” he said. “Valuation is the only thing which is keeping us at SP rating (and not SO rating). Otherwise, it seems the fundamentals have rebounded and have now begun to accelerate in Texas multi-family markets. The excitement in rents is spilling over to the cap rates too.”
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