Post by
incomedreamer11 on Oct 24, 2023 11:02am
TD down target price again
We derive our $4.75 from $5 target price by using an AFFO multiple of 12.0x-12.5x on our 2024E, representing a 28% discount to our NAV/unit estimate.
AFFO Payout 2023E 115%
P/AFFO 11.0x(2023) 11.0x( 2024) 10.5x (2025)
Company-specific risks include exposure to smaller business tenants, an elevated payout ratio, geographic concentration, reliance on acquisitions for growth, and ownership of units by Bragg Group (~19%), which gives it significant influence over the REIT.
Other key risks to target price include local real-estate markets; competitive supply; demand swings; general economic conditions; interest-rate fluctuations; potential inability to lease up properties; general tenant credit risk; loss of key management personnel; and cost pressures.
Comment by
Konaboy on Oct 26, 2023 10:57am
I think they forgot risks of climate change, not wearing a condom, and stubbing your toe on the corner of the bed in the middle of the night. And is someone suggesting Bragg is a 'bad influence' ??