News Snapshot:
Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow CIBC analyst Sumayya Syed surveyed the REIT sector and offered some top picks, “We estimate 2024 FFO [funds from operations]/unit growth to average approximately 3 per cent, led by industrial REITs at 6 per cent, and office REITs trail the group at a 4-per-cent AFFO [adjusted funds from operations] decline. We lowered our NAVs by 8-9 per cent … Interest coverage ratios are in better shape, averaging 3.5 times vs. 2.5 times historically. PMZ [Primaris REIT] stands out for its better-than-average balance sheet and FFO/unit...
