This Morning's Globe & MailJust another reminder for investors. GLTA
RBC Dominion Securities analyst Matt Logan raised his Tricon Residential Inc. target to $14.50 from $14 with an “outperform” rating, while Scotia Capital’s Mario Saric increased his target to $15 from $14, keeping a “sector outperform” recommendation. The average is $14.58.
“Supported by on-going de-urbanization, de-densification, and demographic trends, the fundamentals for Tricon Residential Inc.’s business remain among the best in our coverage universe,” said Mr. Logan. “These positive factors are magnified by a number of company- and industry-specific tailwinds, such as: 1) further NOI margin expansion to 70 per cent plus, over time; 2) raising $1-billion-plus of third-party capital; and 3) continued cap rate compression, to close the single/multi-family gap. In our view, this should support high-single-digit to low-double-digit NAV and FFO per share growth.”