Overview

* Choice Properties swings to Q2 net loss from year-ago net profit

* FFO per unit increased 3.9% yr/yr

Outlook

* Choice Properties targets 2%-3% growth in Same-Asset NOI, Cash Basis for 2025

* Company expects annual FFO per unit diluted of C$1.05-C$1.06

* Choice Properties aims for adjusted debt to EBITDAFV below 7.5x for 2025

* Company focuses on commercial developments to enhance portfolio quality

Result Drivers

* FAIR VALUE ADJUSTMENTS - Net loss driven by unfavorable fair value adjustment in Exchangeable Units

* STRATEGIC TRANSACTIONS - Completed C$427 mln of transactions in qtr, including acquisitions and disposals, strengthened portfolio

* HIGH OCCUPANCY - Maintained "strong" occupancy rates across retail, industrial, and mixed-use & Residential segments

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$350.78

Rental mln

Revenue

Q2 Net -C$154.2

Income 5 mln

Q2 C$166.94

Adjusted mln

FFO

Q2 FFO C$191.57

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy"

* Wall Street's median 12-month price target for Choice Properties Real Estate Investment Trust is C$16.00, about 7.4% above its July 16 closing price of C$14.81

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)