Author: TSX Stocks

Forayna Vintage Park Apartments in Houston, Texas (Photo provided by BSR)

BSR Real Estate Investment Trust of Little Rock on Thursday announced the purchase of two recently built multifamily properties in the Houston area for $141 million.

The transaction is part of the company’s effort to reshape its portfolio in its core Texas market.

Forayna Vintage Park Apartments is a 350-unit apartment complex in Houston. Botanic Luxury Apartments is a 288-unit complex in Spring, Texas. Both complexes were built in 2023 and have amenities including a saltwater pool, two-story fitness center, cyber lounge, movie theater and pet spa.

The seller was Davis Development of Atlanta, Georgia.

The deal comes after BSR completed the $618.5 million sale of nine Texas multifamily properties to AvalonBay Communities Inc. of Arlington, Virginia, with plans to redeploy the proceeds toward acquisitions with higher potential returns.

“We have wasted no time finding two high-quality assets that complement our portfolio, enhance the REIT’s growth profile, and allow us to accretively redeploy a portion of the proceeds from our recent sale of nine stabilized properties,” Dan Oberste, CEO of BSR, said in the release. “Forayna Vintage Park and Botanic Luxury are both well positioned to benefit from the BSR operating platform and drive growth for our unitholders. By adding these communities, we have quickly executed on a significant portion of the strategy we presented to the market in the first quarter of the year.”

BSR now owns 25 properties consisting of 6,802 apartment units.

The company, which is publicly traded on the Toronto Stock Exchange (TSX HOM.U), recently reported first-quarter operating income of $24.03 million, up 0.8% from the previous year. Net operating income is a key measure of performance used by real estate operating companies and REITs.

H.C. Wainwright, one of the most prestigious financial firms in the U.S., upgraded Galaxy Digital’s price target to $39.

Mike Novogratz’s Galaxy Digital Holdings is riding high ahead of its uplisting on Nasdaq. On Wednesday, May 14, financial firm H.C. Wainwright reaffirmed its Buy rating on Galaxy Digital, raising its price target from $30 to $39.

The crypto financial services and AI infrastructure firm, owned by billionaire Mike Novogratz, currently trades at $32.09 per share. The decision came despite underwhelming financial results for the first quarter of 2025, when the firm posted a $295 million net loss.

These were, as H.C. Wainwright explained, partially due to challenging macro conditions for crypto firms. However, the financial firm pointed to strong potential for growth in the short term, as well as the upcoming listing on Nasdaq, set for May 16. So far, Galaxy Digital has been listed on the Toronto Stock Exchange.

Galaxy Digital has strong growth potential, analysts state

A listing on a more prestigious exchange is a signal to investors about the prestige and trustworthiness of a company. At the same time, Galaxy Digital will benefit from the fact that it will be available on retail trading apps, including Robinhood and eToro.

What is more, the company is expected to benefit from the expected rebound in crypto assets in the second quarter of 2025. This is both due to the services it offers in the space, as well as its own crypto assets.

“We believe Galaxy’s client-facing digital asset businesses and the company’s large crypto portfolio are poised to benefit from rising prices in 2H25, as the industry benefits from greater regulatory clarity and growing institutional adoption,” H.C. Wainwright.

What is more, Galaxy Digital is expected to earn significant revenue from its AI data centers. For instance, the company has secured a contract with CoreWeave, worth approximately $13 million in revenues for the next 15 years.

In a significant move that’s reshaping the cryptocurrency landscape, retail trading giant Robinhood Markets Inc. has announced the acquisition of Canadian crypto firm WonderFi Technologies for approximately $179 million in an all-cash transaction. The deal, which values WonderFi at CA$0.36 per share—a 41% premium over its closing price before the announcement—marks Robinhood’s strategic expansion into the Canadian market.

Strategic Expansion and Market Response

The acquisition has been met with enthusiasm from investors, with Robinhood shares climbing 6.4% to around $61 following the announcement, while WonderFi’s stock on the Toronto Stock Exchange jumped 34% to C$0.24. This positive market response underscores the growing interest in cross-border cryptocurrency consolidation.

Kevin O’Leary, Chairman of O’Leary Ventures and a prominent early investor in WonderFi, expressed excitement about the acquisition during a recent interview, emphasizing the inevitable consolidation in the crypto industry as regulations continue to evolve.

“It’s inevitable as regulators continue to define the crypto industry that scale matters,” O’Leary stated. “This deal is unique. I’ve had a premise in terms of investing in crypto for quite a few years now that not only do you want to own the tokens—Bitcoin, Ethereum, etc.—but you should also own the infrastructure.”

Cross-Border Trading Transformation

O’Leary highlighted one of the most significant advantages of this acquisition: the potential transformation of cross-border trading between the United States and Canada. He pointed out that current foreign exchange services are outdated and expensive, creating pain points for businesses that operate in both countries.

“My biggest pain point is with FX currency when I have to transfer USD or Canadian back and forth. It’s brutal. The wire and Fed wire services are 60 years old, they’re so archaic and they’re really expensive and slow,” O’Leary explained. “But if I had an account at Robin Hood Canada and one in Robin Hood US, I’ll just transfer USDC in one second at practically no cost.”

This capability could disrupt the multi-trillion-dollar foreign exchange market, potentially challenging traditional banking systems. O’Leary suggests banks should take notice of Robinhood’s move, especially with the anticipated approval of stablecoin regulations.

Integration and Product Vision

The acquisition includes WonderFi’s Bitbuy and Coinsquare platforms, furthering Robinhood’s mission to make cryptocurrency accessible to more users. Dean Skurka, WonderFi’s President and CEO, emphasized the alignment between the two companies.

“WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space. We’re delighted to be joining the Robinhood team and to super-charge our product offerings for customers,” Skurka said.

Johann Kerbrat, SVP and GM of Robinhood Crypto, echoed this sentiment, stating, “WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada.”

Regulatory Outlook

The deal comes at a time when cryptocurrency regulations are evolving. O’Leary expressed optimism about the future of stablecoin legislation, referring to the “genius act” or stablecoin bill currently under consideration. He believes this legislation will be crucial in establishing the US dollar as the world’s digital payment system.

“It finally defines the US dollar as the world’s payment system, and that’s important because most commodities around the world, whether it be oil or gold, are priced in US dollars,” O’Leary explained.

The acquisition, subject to regulatory approval, is expected to close by mid-2025, with WonderFi planning to continue operations on its products after the closure. This move not only strengthens Robinhood’s position in the cryptocurrency market but also signals a potential shift in how cross-border financial transactions might be conducted in the future.