Primaris REIT Targets 8% Distribution Growth Through 2029

The REIT anticipates maintaining an in-place occupancy rate of 96% through 2029. This strategy relies on a capital allocation plan involving 500 million Canadian dollars in property sales alongside 300 million Canadian dollars earmarked for capital expenditures. Beyond distributions, the company projects same-properties cash net operating income to climb between 3% and 5% annually.

Chief Executive Alex Avery cited the inherent potential of the existing portfolio as the primary driver for these targets. By focusing on internal growth and streamlining operations, the trust aims to capitalize on underutilized assets rather than relying on external acquisitions to reach its financial goals.