TSX:PMZ.UN - Post by User
Comment by
Mephistopheles3on Mar 01, 2023 3:17pm
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Post# 35313285
RE:Why she tanking
RE:Why she tankingI believe FFO missed consensus by a penny or so and markets are rough on any misses. Quarter was decent, G&A expenses ran hot though from some bonuses or whatever that they're giving themselves which dragged down the results slightly.
I was just reading CIBC's analyst report and they just upped PMZ to $19/share based on the 2023 guidance as well.
PMZ is "turtle investing" - slow and steady as she goes. They won't blow anything away, but with a 7-8% cap. rate, they're already mostly insultated from changes in the yield curve and so we should just see steady advances over the year. I think we'll probably get a 10% capital appreciation in 2023 on top of the distributions which is fine with me.