The Globe and Mail reports in its Wednesday, March 13, edition that Scotiabank analyst Mario Saric rates Allied Properties REIT "sector outperform," but notes that "if our investment horizon was three to six months (instead of 12 months), a 'sector perform' rating is likely more apt." The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Saric lowered his unit target to $21.75 from $22.25. Mr. Saric reduced his unit target on Allied Properties after it acquired a couple of office real estate properties. Allied Properties announced acquisitions of 400 West Georgia in Vancouver and 19 Duncan in Toronto from Westbank. Mr. Saric says in a note: "We see both positives (mix of short-term and longer-term) and challenges (short-term). We think portfolio and earnings quality moves up, but so does financial leverage, while our estimates fall, but not enough for us to be overly concerned about the distribution, which we still consider sustainable in 2024 pending expected occupancy gains. Net-net, we still think a mid-teen total return compounded annual growth rate through 2025-2026 is achievable, but we don't see many controllable catalysts in 1H/24, which remain skewed to the macro."