BTB REIT: 9% Yielder Hits Our Price Target (Rating Downgrade)

Montreal downtown in the autumn jbd30/iStock via Getty Images Note: All amounts disclosed are in Canadian Dollars Just as 2023 was winding down, we switched to a bullish stance on BTB Real Estate Investment Trust (BTBIF, TSX:BTB.UN:CA). While the REIT had its baggage and the office sector downturn was not particularly endearing for a long position, we felt the setup was relatively compelling. Valuation was the primary guide, and the REIT's fundamentals in non-office areas were a close second. While we co ...