CT REIT (CRT-UN:CA)
Scotiabank raised its 12 month target price to C$17 from C$16.50 and maintained a Sector Perform rating following the company’s in-line third-quarter results. Analysts highlighted a modest increase in Net Asset Value per Unit (NAVPU), reflecting stable portfolio performance and disciplined financial management.
The firm noted that CT REIT’s income outlook remains steady, supported by high occupancy levels and the company’s long-term leases with investment-grade tenants, including its anchor tenant, Canadian Tire. This stability continues to provide predictable cash flow and distribution growth visibility, even in a higher interest rate environment.
Scotiabank also emphasized that CT REIT’s conservative balance sheet and minimal near-term refinancing risk position it well to navigate market uncertainty, while maintaining a focus on gradual portfolio expansion and rent escalations to drive sustainable long-term growth.
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