Post by
TeamCommonSense on Oct 28, 2024 12:20pm
Analyst update TDDI
AUTOMOTIVE PROPERTIES REIT (HOLD-rated, $12.00 Target Price)
FFO/AFFO: We are forecasting modest 2% and 4% growth in FFO/unit and AFFO/unit, as steady NOI growth (from increases in contractual rent) is supported by slightly lower y/y interest expense.
Capital Allocation: With the previously announced Q3 sale of the Kennedy Lands in Markham, ON, we will be looking to hear more colour from management on further asset/land sales as well as acquisitions.