Post by
materialsgirl on Apr 18, 2022 10:37pm
On March 07 CIBC rated us as outperformers
$18.50 was the target price.
Over the next several years the action will be driven by;
*** improving the vacancy level
*** development decisions and progress
*** acquisitions. This will be hard due to current discount to NAV
*** share buybacks
I do not foresee many dispositions except in some special case
where the acquirer needed the land for repurposing and the price
was double NAV
I am not a fan of buybacks normally but when a discounr is ~35%
the most attracrive action is to reduce the share count.
mat
Comment by
SNAKEYBOY on Apr 19, 2022 9:52am
They want to acquire other shopping centres and be the only dominant mall REIT. They will need to get SP to $20ish and do offerings. I see this playing out 1-2 years down the road when unit price has nicely moved up