TSX:AX.PR.E - Post by User
Post by
garyreinson Dec 22, 2023 6:41pm
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Post# 35798658
Why public markets are shams
Why public markets are shamsLook at this, RIOCAN is trading $309/sf. Most of their properties is in key Toronto locations where they can raise rents expotentially and/or have huge resdential density and population growth. Yonge/EG, Yonge/Sheppard, Empress, Colosuss, the well etc. Artis western properties fetch more than riocan implied value, plus riocan traded at $30 like 20 years ago. laughable
We view the valuation at $373/sf and ~7% cap rate as strong relative to those currently implied by trading valuations for our retail REIT coverage (averaging 7.2% cap rate and $251/sf overall, and specifically $342/sf for FCR, $309/sf for REI.un,