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Primaris Real Estate Investment Trust ( ($TSE:PMZ.UN) ) has shared an announcement.
Primaris Real Estate Investment Trust has successfully closed a $124.3 million secondary equity offering, selling 8,457,944 trust units at $14.70 each through a syndicate of underwriters led by RBC Capital Markets and TD Securities Inc. The offering involved the sale of units held by a selling unitholder, managed by Cadillac Fairview, and did not generate proceeds for Primaris. This transaction is part of Primaris’ strategic management of its assets, reflecting its robust market positioning and capitalization, which allows it to capitalize on opportunities within the Canadian retail property sector.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Spark’s Take on TSE:PMZ.UN Stock
According to Spark, TipRanks’ AI Analyst, TSE:PMZ.UN is a Outperform.
Primaris REIT’s strong financial performance, strategic acquisitions, and robust dividend yield are key strengths. While technical indicators show some short-term weakness, the company’s proactive strategies in handling tenant challenges and maintaining solid financial guidance provide a balanced outlook.
To see Spark’s full report on TSE:PMZ.UN stock, click here.
More about Primaris Real Estate Investment Trust
Primaris Real Estate Investment Trust is Canada’s only REIT focused on enclosed shopping centres, with ownership interests in leading shopping centres across growing Canadian markets. The portfolio encompasses 15.0 million square feet, valued at approximately $4.9 billion. Primaris operates with a fully internal, vertically integrated management platform, positioning it well to leverage market opportunities in the evolving Canadian retail property landscape.
Average Trading Volume: 200,092
Technical Sentiment Signal: Buy
Current Market Cap: C$1.46B
For a thorough assessment of PMZ.UN stock, go to TipRanks’ Stock Analysis page.