TSX:DIR.UN - Post by User
Post by
retiredcfon May 05, 2022 11:15am
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Post# 34658650
Revised Targets
Revised TargetsNot surprising given these incredibly volatile markets but analysts are being extremely cautious. GLTA
Desjardins Securities’ Michael Markidis cut his Dream Industrial Real Estate Investment Trust target to $18 from $18.50 with a “buy” rating, while Canaccord Genuity’s Mark Rothschild reduced his target to $16.50 from $19 with a “buy” rating. The average is $18.93.
“DIR reported solid 1Q22 results,” Mr. Markidis said. “Revisions to our FFOPU [funds from operations per unit] outlook and NAV are not material; however, we have trimmed our target to reflect heightened yield curve volatility and the potential impact on property values. Conservative leverage and an above-average earnings growth outlook (two-year FFOPU CAGR of 7–8 per cent) are favourable attributes in an inflationary environment, in our view.”