The Globe and Mail reports in its Wednesday, Sept. 20, edition that National Bank Financial analyst Tal Woolley is sticking with his "outperform" recommendation for Chartwell Retirement REIT. The Globe's David Leeder writes that Mr. Woolley gave his unit target a 50-cent boost to $12. Analysts on average target the units at $11.50. The Globe reports that Mr. Woolley raised his financial forecast for Chartwell Retirement following the previous week's release of a bullish occupancy report. As well, he increased his funds from operations per unit forecast for 2023 by 1 per cent and 2024 by 4 per cent. Mr. Woolley says in a note: "We have also adjusted numbers to include one more asset disposition (an LTC redevelopment under a forward sale contract, as part of the original LTC disposition) and an expected acquisition from its Batimo pipeline agreement in Q4. ... Our 2024 forecast now sees Chartwell fully covering its distribution for the first time since COVID (2024 AFFO payout ratio estimated at 97 per cent). Given the strong momentum, we expect we could see further upward estimate revisions ahead, as the high operating and financial leverage that worked against Chartwell during COVID now works in its favour."