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Primaris Real Estate Investment Trust ( ($TSE:PMZ.UN) ) has provided an announcement.
Primaris Real Estate Investment Trust has completed the acquisition of Promenades St-Bruno in Montreal, Quebec, for $565 million. This acquisition aligns with Primaris’ growth strategy, focusing on market-leading shopping centres in expanding Canadian markets, and enhances its position in the retail property sector.
The most recent analyst rating on ($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 centres, with ownership interests in leading shopping centres located in growing Canadian markets. The portfolio encompasses 15.6 million square feet, valued at approximately $5.4 billion. Primaris achieves economies of scale through its fully internal, vertically integrated, full-service national management platform, positioning it well to capitalize on market opportunities in the evolving Canadian retail property landscape.
Average Trading Volume: 172,449
Technical Sentiment Signal: Buy
Current Market Cap: C$1.58B
See more insights into PMZ.UN stock on TipRanks’ Stock Analysis page.