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Investing.com - Desjardins initiated coverage on GO Residential REIT (TSX:GO-U) with a Buy rating and a price target of $15.00.
The research firm classified the stock as "Average Risk" while highlighting the REIT’s portfolio of luxury high-rise apartment buildings in New York City, which it describes as one of North America’s most attractive multifamily markets.
Desjardins noted that GO Residential offers investors a 5.5% U.S. dollar-denominated cash yield and operates with a largely self-funded model for both operations and capital investments.
The firm projects elevated FFOPU (Funds From Operations Per Unit) growth through 2027 for the REIT, suggesting strong operational performance in the coming years.
Desjardins also pointed out that GO Residential currently trades at a significant discount compared to both its public peers and private market comparables, suggesting potential for share price appreciation.
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