Choice Properties Real Estate Investment (PPRQF – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Mark Rothschild from Canaccord Genuity maintained a Buy rating on the stock and has a C$15.50 price target.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Mark Rothschild’s rating is based on the strong financial performance and growth prospects of Choice Properties Real Estate Investment. The company reported financial results that aligned with expectations, showcasing robust operational outcomes in both its industrial and retail portfolios. Notably, the REIT achieved a same-property NOI growth of 2.8% and an FFO per unit increase of 2%, indicating steady financial health.
Furthermore, Choice Properties maintains a high occupancy rate of 97.6% and has been proactive in increasing distributions, with a recent hike to $0.77 per unit. Despite facing increased interest expenses due to rising rates, the REIT benefits from one of the strongest balance sheets in its sector. The company is also actively pursuing development across various asset classes, which supports its growth strategy. These factors contribute to a positive outlook and justify the Buy rating with a target price of $15.50 per unit.
In another report released on January 30, Scotiabank also maintained a Buy rating on the stock with a C$15.50 price target.