Choice Properties Real Estate Investment (PPRQF – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Markidis from BMO Capital reiterated a Buy rating on the stock and has a C$15.50 price target.
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Michael Markidis’s rating is based on several compelling factors. Choice Properties Real Estate Investment (CHP) has demonstrated consistent financial performance with its Q4 results aligning with expectations, including a 1.3% increase in distribution and strong FFO per unit guidance for 2025. The company’s earnings growth trajectory, although modest, is stable, and its balance sheet is notably stronger compared to its peers, which instills confidence in their financial health.
CHP’s specific achievements in SP-NOI growth, particularly in the retail and industrial sectors, along with a high occupancy rate of 97.6%, highlight its operational strength. The company’s strategic acquisitions and developments, such as the Loblaw deal and the Choice Caledon Business Park, are positioned to yield attractive returns. Additionally, the company’s financial flexibility is underscored by solid liquidity and successful recent financings, ensuring it is well-equipped to pursue future growth opportunities.
In another report released on February 13, Canaccord Genuity also maintained a Buy rating on the stock with a C$15.50 price target.