The Globe and Mail reports in its Thursday edition that National Bank Financial analyst Matt Kornack is sticking with his "outperform" call for Allied Properties REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kornack cut his unit target back by a loonie to $19. Analysts on average target the units at $20.31. Mr. Kornack says in a note: "Our highest total return to target in the office sector is Allied, given the REIT's relative asset quality (including an exceptional urban land footprint) and capital structure vs. an increasingly tempting valuation. There is an ongoing flight to quality where tenants are prioritizing built-out space with access to amenities, and as such, we believe Allied is best positioned operationally despite broader office turbulence. Additionally, their above-noted ultra-core urban portfolio provides for a value floor as it would appeal to investors with a long-term view on the Canadian market and particularly its top cities. We continue to like the quality and footprint of the portfolio offering relative to valuation but expect a growing desire for management to prove this value through monetization of select assets while also improving balance sheet metrics."