TSX:INO.UN - Post by User
Post by
hawk35on Apr 13, 2022 10:45am
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Post# 34600215
From today's Globe and Mail
From today's Globe and Mail Following its recent $61-million acquisition of two European office properties, Canaccord Genuity’s Christopher Koutsikaloudis
cut his Inovalis Real Estate Investment Trust (
INO-UN-T +0.22%
increase) target by $1 to
$9, keeping a “hold” rating. The average is $9.46.
“While we are encouraged by initial signs that management has shifted the REIT back into ‘growth mode’, we acknowledge that investor sentiment has deteriorated since the beginning of this year,” he said. “In this context, we do not believe Inovalis is likely to trade in line with its NAV in the near term given the REIT’s elevated payout ratio (170 per cent based on 2022 estimated AFFO), low liquidity, and continued uncertainty regarding future office demand.”