Primaris REIT sets 2029 targets; expects up to 8% distribution growth

By Adriano Marchese Primaris Real Estate Investment Trust has laid out its growth targets through 2029, backed by tenancy optimization and greater operating efficiency. The REIT on Wednesday said that it expects average annual funds from operations growth of between 4% and 8% with an in-place occupancy of 96% over the next three years. The funds from operations increase is matched by a 4% to 8% distribution target as well, supported by more than 500 million Canadian dollars ($351.9 million) in planned property dispositions and C$300 million in capital expenditures. The company also expects average annual same-properties cash net operating income growth of 3% to 5% in the three-year period. "Primaris has a clear path to meaningful growth over the next three years, supported by significant opportunity embedded within our existing portfolio," said Chief Executive Alex Avery. Write to Adriano Marchese at adriano.marchese@wsj.com (END) Dow Jones Newswires October 07, 2026 08:30 ET (12:30 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.