TSE:PMZ.UN
Primaris REIT (PMZ.UN.TO)
Primaris REIT (PMZ.UN.TO) is covered by Stockchase stock experts. Read their latest opinions, ratings and top picks below.
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He scratches his head about this too. Likes it here. A bit of concern about shopping malls in general, with their sensitivity to the consumer. From what his team sees, consumers are continuing to spend $$. And it's cold up here, we love our malls. Great numbers, excellent balance sheet will provide stable returns going forward.
Does have some HBC stores. But their retail team is one of the best and should be able to unlock a lot of value with minimal investment.
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Premium contentOur PAST TOP PICK with PMZ.UN has triggered its stop at $18.50. To remain disciplined, we recommend covering the position at this time. When combined with our previous guidance, this will result in a net investment Gain of 4%.
Premium contentPremium contentWe reiterate this low leverage, low payout ratio REIT with significant free cash flow as a TOP PICK. We like that cash reserves are growing, while debt is aggressively retired. It trades at 20x earnings and under book value. The yield is backed by a FFO ratio under 55%. We recommend trailing up the stop (from $11.90) to $13.75, looking to achieve $18.50 -- upside potential of 18%. Yield 5.4%
Premium contentPMZ.UN is Canada's only REIT focused on enclosed shopping centres that it owns and operates. The company recently reported over 94% occupancy commitments, a funds payout ratio of only 52%, and no debt retiring in 2024. It trades at 11x earnings and under book value. We recommend setting a stop-loss at $11.90, looking to achieve $17.00 -- upside potential of 22%. Yield 6.0%
Operates in malls, which makes everyone run for the exits. Operates in centres such as Kelowna, Guelph and Halifax. Places where there's only 1 mall, and nobody's building malls. So they have lots of power as landlords about who they'll accept as tenants, along with pricing power.
Very high quality. One of the best REITs in the whole sector. Trades at 40% discount to NAV.
James Telfser
Brian Madden
Fundamentals are good. Leasing spreads were up 8.7% last quarter. H&R Reit (HR.UN-T) has made a bid to acquire them and it looks like this will go through. If this still works, the economy is going to have to be good for retail. H&R is probably going to be coming to market to issue equity. Fundamentals are still in place for REITs.
Greg NewmanOffer made for $26, but he feels it is worth $28-$29. Enclosed shopping malls in Canada. Thinks the portfolio has a lot of value. Target is taking up a lot of locations in their malls. He would prefer it to continue to trade.
Michael MissaghieFairly well distributed portfolio. Bought two malls recently and they are doing the right things. Got an upgrade to investment grade status. 5-5.5% dividend and modest capital appreciation. He prefers larger companies like REI.UN-T. They have access to capital and had quite a sell off.
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Primaris REIT (PMZ.UN.TO) Frequently Asked Questions
What is Primaris REIT stock symbol?
Primaris REIT is a Canadian stock, trading under the symbol PMZ.UN.TO (previously PMZ.UN-T on Stockchase) on the Toronto Stock Exchange (PMZ.UN-CT). It is usually referred to as TSX:PMZ.UN or PMZ.UN.TO
Is Primaris REIT a buy or a sell?
In the last year, 2 stock analysts issued a Buy, Sell, or Hold rating on PMZ.UN.TO (previously PMZ.UN-T on Stockchase). 2 analysts recommended to BUY and 0 analysts recommended to SELL the stock. The latest stock analyst rating is TOP PICK. Read the latest stock experts' ratings for Primaris REIT.
Is Primaris REIT a good investment or a top pick?
Primaris REIT was recommended as a Top Pick by Jamie Murray on 2026-10-08. Read the latest stock experts ratings for Primaris REIT.
Why is Primaris REIT stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for Primaris REIT.
Is Primaris REIT worth watching?
Primaris REIT is followed by 68 investors on Stockchase and is a trending stock that is worth watching.
What is Primaris REIT stock price?
On 2026-10-29, Primaris REIT (PMZ.UN.TO) stock closed at a price of $22.54.
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Largest enclosed mall operator in Canada. Strong niche -- not the highest-end mall, and not the lowest. Good acquisition track record. Needing to re-lease HBC stores, but market's digested the hit taken on that. (HBC rents were low, re-leasing will unlock profit.) Very conservatively run. Low debt and payout ratio. In-store shopping is back, and this is a great way to play. Yield is 4.13%.
(Analysts’ price target is $25.50)