Inovalis Real Estate Investment Trust T.INO.UN

From Globe & Mail this AM

[SuperM]

Hi all, some decent upside on this stock and targets nowhere close to 2.40.  Average 4.75.
SM
GLTA
Desjardins Securities’ Alexander Leon initiated coverage of Inovalis Real Estate Investment Trust (

INO-UN-T -1.14%decrease

 

) with a “hold” rating and $4.50 target. The average is $4.75.

 

“Main tenant departures, a 50-per-cent distribution cut and broader market volatility have contributed to INO’s units currently trading at a significant discount to historical valuations, resulting in an elevated 11.5-per-cent distribution yield,” the analyst said. “While we believe the distribution is sustainable, certain critical milestones need to be achieved before we become more constructive in our recommendation.”

[stockrook86]

Good update, glad to hear an analyst thinks the distribution is sustainable. I do as well (the Arcueil vacancy should be very temporary if it is not sold before). Sometimes when I see the uield at 11+% I figure I must be taking crazy pills.