TD analyst forecasts 20% growth for REITs in 2025

TD analyst Sam Damiani predicts a 20% increase for the REIT sector in 2025, driven by cash yields, growth in adjusted funds from operations, and potential multiple expansion. He notes that REIT prices have adjusted to recent uncertainties. Damiani has "buy" ratings on several REITs, including RioCan and H&R REIT. He highlights the sector's low price-to-net asset value ratio and expects increased transaction activity, particularly from foreign investors, as interest rates stabilize. In currency news, BofA Securities strategist Howard Du is optimistic about the Canadian dollar's short-term performance. He suggests that recent trends may reverse, benefiting the loonie against the Swiss franc, amid improving political certainty in Canada.