Financial PerformanceHigher interest expense partly offset financial gains, and a trend of lowering turnover could result in slightly lower future blended leasing spreads.
Market ValuationCAP REIT's units currently trade at a 7.1% premium to the analyst's NAV estimate, indicating a potential overvaluation.
Stock RatingAnalyst downgrades rating to Hold from Buy, citing the unit price approaching fair value and potential limitation on near-term unit price appreciation due to activity on the $400M ATM program.