TSX:ERE.UN - Post Discussion
Post by
retiredcf on Sep 30, 2022 9:22am
Desjardins
Following a tour of its properties, in Randstad, Netherlands, Desjardins Securities’ Kyle Stanley cut his European Residential Real Estate Investment Trust (ERE.UN-T) target to $4.75 from $5.25 with a “buy” rating. The average is $4.97.
“We came away with an enhanced appreciation of the REIT’s operating philosophy and rent growth potential,” he said. “We have reduced our target ... reflecting updated NAV work (20bps of cap rate expansion) and the uncertain European macro environment. In our view, should the material 40-per-cent discount to NAV not begin to narrow, we would not be surprised to see ERE’s parent (CAR) evaluate strategic opportunities to maximize unitholder value.”
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