BSR REIT downgraded to Sector Perform from Outperform at National Bank

National Bank analyst Matt Kornack downgraded BSR REIT to Sector Perform from Outperform with an unchanged price target of $12.50. The analyst cites a “persistent unfavorable” supply backdrop in the the company’s core markets, its higher leverage and an overhang from low in-place interest rates on existing swaps being a drag on earnings growth for the downgrade.