Q: Why the sudden market reversal ? With the forecast of 2 or 3 central rate cuts by the Bank of Canada, their value should rise, shouldn’t it ? thank you
5i Research Answer:
AP.UN has risen for six straight trading days. It is still down 5.9% for the year, but is well off its lows. It is cheap, but its office focus holds back investor interest. It should be able to do better with lower rates, but keep in mind lower rates is not 'news' and can be priced in ahead of time. ZRE is up 16.96% this year and is certainly benefiting from the sector resurgence. It is very close to its 52-week high.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in ZRE.