RBC Capital Markets raised its price target on Primaris REIT (PMZ-UN.TO) to $23 from $21 on Friday.
Analyst Pammi Bir maintained an Outperform rating on shares of the Canadian enclosed shopping center-focused REIT following a tour of Oshawa Centre, a property PMZ acquired in January 2025.
"We came away with a stronger appreciation of the value creation opportunity from robust CRU leasing velocity, the repositioning of former anchor boxes, and potential monetization of excess land," Bir said in a note to clients.
"In short, the property fits squarely within PMZ's focus on acquiring regionally dominant malls with NOI upside," the analyst said.
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