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RBC Capital Markets LLC upgrades SmartCentres REIT to 'top pick'

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RBC Capital Markets LLC upgrades SmartCentres REIT to 'top pick'

RBCCapital Markets LLC analyst Michael Smith upgraded his investmentopinion of SmartCentresREIT to "top pick" from "outperform," with aprice target of C$36.

The analyst wrote in a research report: "A timely entrypoint into a business with significant NAV growth potential and an attractive(and growing) yield. SRU has the highest potential total return across ourcoverage universe." The analyst added: "SRU currently trades at a 8%discount to our NAV. With a current yield of ~6% we believe investors aregetting paid to wait for development profits to kick in and the negativesentiment to change."