Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

RBC Capital Cuts Price Target On This REIT By 4%

  • RBC Capital analyst Jimmy Shan has reduced the Canadian Apartment Properties REIT (TSX:CAR) (OTC:CDPYFprice target to C$66 from C$69.
  • The analyst maintained the Outperform rating on the shares.
  • Shan remarked that 1Q22 reflected a difficult winter but an increasing revenue forecast, which the second half should better reflect. Given the current valuation, NCIB is being considered with asset sales, the analyst noted.
  • According to the analyst, the valuation is tricky—a glass-half-full investor considers the inflationary impact on replacement costs and rents, while a glass-half-empty investor considers the negative/thin investment spread impact on cap rates.
  • Price Action: CAR.UN shares are trading higher by 0.27% at C$47.84 on TSX on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.