-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：我们将REI.UN股票的12个月目标价上调1美元至23美元，采用14.1倍的远期市盈率（P/FFO），该倍数基于我们对2026年FFO的预期，高于三年平均水平10.4倍。我们将2026年FFO预期下调0.05美元至1.63美元，并将2027年FFO预期下调0.02美元至1.70美元。由于RioCan已完成80%（10.4亿美元）的计划销售并签订合同，资本循环计划的风险有所降低。执行风险目前转向RioCan能否成功将所得资金用于增值收购，管理层的目标是实现9%的无杠杆内部收益率（IRR）。 RioCan的核心物业组合目前入住率已达峰值，因此难以从第一季度强劲的续租趋势中获益（第一季度续租率同比增长25.8%，其中新租约增幅高达58.5%）。我们仍然认为RioCan在开发和拓展以超市为主力店的物业方面具有优势，但其近期面临的再融资阻力将影响其FFO（营运资金）。
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