Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
Investing.com - Desjardins downgraded Choice Properties (TSX:CHP-U) (OTC:PPRQF) from Buy to Hold while maintaining a price target of C$16.00, citing the real estate investment trust’s recent unit price performance.
The downgrade follows what Desjardins described as "another solid result" in the second quarter, with the firm expressing continued confidence in Choice Properties’ ability to generate low- to mid-single-digit FFOPU (funds from operations per unit) growth over the long term.
Desjardins specifically projects a 2025-2027 FFO compound annual growth rate of 3.3% for the REIT, indicating stable but moderate growth prospects.
The rating change reflects Choice Properties’ year-to-date unit price performance and its current relative valuation, with Desjardins noting an expected 12-month total return of approximately 14%.
The downgrade also aligns with Desjardins’ broader shift in preferences away from defensive positions, which the firm attributes to a more optimistic outlook for Canada’s economy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.