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Investing.com - BMO Capital raised its price target on PRO REIT (TSX:PRV-U) to C$6.00 from C$5.50 while maintaining a Market Perform rating following the company’s second-quarter 2025 results.
The firm cited robust leasing spreads that position PRO REIT to achieve its target of over 5% same-property net operating income (SP NOI) for 2025.
BMO Capital noted that PRO REIT has made good progress on lease expiries extending into 2026, providing a "margin of safety against any upcoming macro turbulence."
The price target increase reflects BMO’s application of a slightly higher multiple for the real estate investment trust, which it attributed to "ongoing execution."
Despite the positive outlook, BMO Capital maintained its Market Perform rating, stating that current valuation levels have moved closer to large-cap Canadian industrial peers and fairly reflect the company’s positive factors.
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