TSX:SGR.UN - Post by User
Post by CDNplungeron Aug 06, 2022 1:29am
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Post# 34875983
RBC comments
RBC commentsSetting up well for a weaker backdrop
Sector Perform, Price Target raised to $12 from $11.50
Our view: Our stable view on SGR is unchanged, post Q2/22 results that were a bit short of our call.
As economic traction dials back, we believe the portfolio is in good form to navigate, supported by its predominantly essential needs tenant base.
Leasing spreads are tracking well in the low-double digit range, which coupled with rising market rents and stable occupancy should setup SGR for steady, low-single digit organic growth.
As well, its recently created strategic JV provides a new source of private capital to fund growth initiatives.