Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The latest update is out from Primaris Real Estate Investment Trust ( ($TSE:PMZ.UN) ).
Primaris Real Estate Investment Trust has successfully closed a $147.5 million equity offering, issuing 10 million trust units at $14.75 each. The proceeds will be used to fund the acquisition of Promenades St-Bruno in Montreal, Quebec, enhancing Primaris’ portfolio and market positioning in the Canadian retail property sector.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$16.50 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 overall stock score is driven by strong earnings call performance and robust guidance, highlighting strategic acquisitions and growth in NOI. Financial performance is stable but affected by increased leverage and declining profitability metrics. Technical analysis indicates a bearish trend, but the stock is nearing oversold territory, suggesting potential for a rebound. Valuation is mixed, with a high P/E ratio but an attractive dividend yield.
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 centers, owning interests in leading centers across growing Canadian markets. The portfolio spans 15.6 million square feet, valued at approximately $5.4 billion, and benefits from a fully integrated national management platform, positioning it well for market opportunities in the evolving Canadian retail property landscape.
Average Trading Volume: 172,449
Technical Sentiment Signal: Buy
Current Market Cap: C$1.58B
For detailed information about PMZ.UN stock, go to TipRanks’ Stock Analysis page.