Buy Rating Affirmed for Choice Properties REIT on Strong Performance and Growth Prospects

Canaccord Genuity analyst Mark Rothschild maintained a Buy rating on Choice Properties Real Estate Investment (PPRQF – Research Report) today and set a price target of C$15.50.

Mark Rothschild has given his Buy rating due to a combination of factors including Choice Properties REIT’s solid operating performance and growth prospects. The company reported Q1/25 results that slightly exceeded expectations, with FFO per unit and same-property NOI growth of 1.9% and 2.9%, respectively. This performance has led to a year-to-date return of 9.5%, surpassing both retail peers and the REIT index.
Rothschild also highlights the REIT’s high-quality and defensive portfolio, which is expected to continue performing well despite softening fundamentals in other real estate asset classes. The target price remains at $15.50, reflecting a 10% premium to the NAV estimate and an implied total return of 13%. The healthy leasing spreads and high occupancy rates further support the positive outlook, with management guiding for consistent same-property NOI growth in 2025.

In another report released on April 14, National Bank also upgraded the stock to a Buy with a C$16.00 price target.