BSR REIT downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded BSR REIT (BSRTF) to Sector Perform from Outperform with a price target of $13, down from $14.50, citing both near-term earnings “choppiness” with 2026 guidance coming below estimates and a valuation that is higher than its large cap U.S. Sunbelt peers. While the firm contends that 2026 is “not reflective of its earnings power,” portfolio quality and operating platform, it thinks “this will take some time” and “investor patience is in short supply.”