BSR REIT price target lowered to $14 from $15 at CIBC

CIBC lowered the firm’s price target on BSR REIT (BSRTF) to $14 from $15 and keeps an Outperformer rating on the shares following BSR’s Q4 earnings results missing consensus estimates, which was “partly driven” by a 6.1% year-over-year decline in same-community NOI and elevated G&A expenses.