BSR REIT downgraded to Outperfrom from Strong Buy at Raymond James

Raymond James analyst Brad Sturges downgraded BSR REIT to Outperform from Strong Buy with a maintained price target of $17. Given its relatively more stable start in 2023 year-to-date, BSR now trades at a similar P/AFFO multiple valuation versus its larger-cap U.S. MFR peers on average, but its below- average trading liquidity may somewhat limit its P/AFFO multiple recovery in the near-term in light of this relatively similar valuation, the analyst tells investors in a research note.