I agree with your sentiment on both. The interesting thing is that analyst coverage has not yet begun for PMZ.un. I anticipate that BMO will begin coverage this year - probably with an Outperform rating (depending on whether the unit value has risen markedly between now and then). Once analysts start covering (and hopefully rating as a Buy), and the ETFs and Mutual Funds begin buying in - the price should move higher and stabilize (at least as much as REITs ever stabilize). PMZ.un is still waiting for confirmation of their inclusion in the TSX Composite Index as well. All positive developments for the near future! Cheers!

gashole wrote: I wasnt too bullish when all this happened but I can now see after reading up what PMZ is going to be doing and what HR is and going to be doing that its good to hold both of them... I am now again VERY bullish on both stocks. We could see 30 to 40% capital appreciation plus dividends over the next 12 to 18 months.. NAV for HR and PMZ or close to it, here we come (finally).. 
Good luck everyone and congrats on holding. Finally something is happening. I averaged down on my PMZ split shares. planning to hold for LONG TERM.. 

materialsgirl wrote: Your optimism would be classed as pessimism for me.
The share price should rise by $6 to $8 just by 
stockpiling the excess cash of earnings after distributions.

My notion for 10 years is $30 (pessimistic) and $40 which 
might be slightly optimistic