OneREIT Receives a Buy from TD Securities

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, OneREIT (TSX: ONR.UN). Analyst Sam Damiani from TD Securities rated OneREIT (TSX: ONR.UN) a Buy on on May 16, setting a C$4.25 price target.

Damiani noted:

“We continue to believe that management would prefer to have the review concluded before the REIT’s AGM (tentatively June 28, 2017).”

Damiani has an average return of 5.8% when recommending OneREIT.

According to TipRanks.com, Damiani is ranked #2586 out of 4561 analysts.

OneREIT has an analyst consensus of Moderate Buy, with a price target consensus of C$4.

Based on OneREIT’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$30.59 million and quarterly net profit of C$9.32 million. In comparison, last year the company earned revenue of C$30.27 million and had a net profit of C$2.81 million.

OneREIT operates as a open-end real estate investment trust. It focuses on owning and acquiring retail properties across Canada. The company was founded on December 15, 2003 and is headquartered in Vaughan, Canada.

The company’s shares closed last Wednesday at $3.86, close to its 52-week high of $3.95.