Chartwell Retire (CSH.UN) Gets a Buy Rating from Canaccord Genuity

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Financial sector company, Chartwell Retire (TSX: CSH.UN). Analyst Brendon Abrams from Canaccord Genuity remains bullish on the stock and has a C$17.50 price target.

Abrams observed:

“We have not made any material changes to our estimates and are maintaining our BUY rating for Chartwell. We believe the units should trade at a premium to NAV to reflect the REIT’s high-quality private pay portfolio, best-in-class operating platform, and growth potential attributable to favourable long-term demographic trends.A A FFO per diluted unit of C$0.23, up 6% year over year. Chartwell reported FFO per diluted unit of C$0.23., up 6% year over year and slightly ahead of our estimate of C$0.22. The Y/Y increase was driven by strong same-property NOI growth and contributions from acquisitions completed in the last year.”

According to TipRanks.com, Abrams is ranked #3246 out of 4848 analysts.

Currently, the analyst consensus on Chartwell Retire is a Moderate Buy with an average price target of C$16.75.

The company has a one-year high of C$16.47 and a one-year low of C$14.25. Currently, Chartwell Retire has an average volume of 208.2K.

Chartwell Retirement Residences is a real estate investment trust, which engages in the ownership and operation of a range of seniors housing communities from independent supportive living through assisted living to long term care. It opeartes through Retirement Operations; and Long Term Care Operations segments.

The company’s shares closed on Friday at C$15.41.