The Globe and Mail reports in its Wednesday, Nov. 12, edition that RBC Dominion Securities analyst Pammi Bir has reaffirmed his "outperform" ranking for Chartwell Retirement Residences REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bir boosted his unit target by a loonie to $22. Analysts on average target the units at $22.90. In a note titled "95 per cent occupancy in sight ... now what?," Mr. Shreedhar says: "Our title sums up the most common question we've had from investors over the past several months. Yet supported by robust demand, muted new supply and significant operational advances, we see a runway for solid organic growth to continue through 2026. Combined with a cost of capital that has enabled another sizable round of accretive acquisitions, our forecasts reflect sector best earnings growth -- all while exercising discipline on the balance sheet." Last week, the Mississauga-based company reported a "strong" increase in same-property net operating income of 15.8 per cent year-over-year (and 18.9 per cent year-to-date), driven by growth in occupancy and rents/service rates. Same-property occupancy rose to 93.1 per cent, up 4.7 per cent year-over-year.
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