TSX:CHP.UN - Post by User
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retiredcfon Mar 23, 2024 10:28am
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Post# 35948679
Desjardins
DesjardinsFrom a month ago. GLTA
Desjardins Securities’ Lorne Kalmar raised his Choice Properties REIT target by $1 to $15.50 with a “buy” rating. The average is $15.14.
“CHP reported another solid quarter,” he said. “SPNOI came in at an impressive 4.2 per cent while occupancy ticked up to 98.0 per cent. The REIT also delivered two industrial developments and a 126-unit multi-family project, along with an acceleration of capital-recycling activity. Our revised 2024 FFOPU estimate is at the top end of management’s $1.02–1.03 guidance range. We continue to view CHP as a high-quality name with a defensive, in-demand portfolio deserving of a premium valuation.”