TSX:IIP.UN - Post by User
Post by
retiredcfon Nov 27, 2022 7:36am
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Post# 35131724
Results and Comparison
Results and Comparison Can you comment on IIP.UN"s most recent quarterly results? How does it compare to CAR.UN from a valuation perspective?
IIP reported mostly an in-line quarter with FFO per unit up 3.7% YOY (meeting expectations) and same property net operating income growth of 12.4%, supported by a curb on expense growth. Average market rent grew by 6.9% and occupancy increased to 95.6%. IIP has completed a refinancing and increased its dividend for the 11th consecutive year by 5.3%. It was a decent quarter. IIP trades fairly cheaply compared to CAR and this can be based on their sizes, dividend yield, and CAR's relatively better balance sheet. Faster growth is expected for IIP looking ahead. (5iResearch)