Crombie REIT (CRR-U: CN) (OTC: CROMF) has retained its Outperform rating and Cdn$15.00 price target from BMO Capital. The firm's analysis highlighted the company's strong performance amid a favorable environment for defensive retail properties in Canada.
Despite a quiet period for acquisition activities, Crombie REIT has been actively investing in significant developments, including The Marlstone project, as well as in non-major developments such as LUI's and various modernization efforts.
Crombie REIT's second-quarter results demonstrated the robust fundamental conditions supporting the retail real estate sector in Canada.
The company's commitment to development projects is part of its strategy to enhance property value and generate sustainable growth.
The Marlstone development, in particular, is a major endeavor that reflects the company's focus on capital allocation to promising ventures.
BMO Capital also noted Crombie REIT's improving leverage profile, which indicates a strengthening financial position.
The company's enhanced financial flexibility, with $700 million in liquidity, provides it with ample capacity to manage its operations and pursue further growth opportunities.
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