The Globe and Mail reports in its Tuesday edition that RBC Capital analyst Pammi Bir continues to rate Allied Properties REIT "sector perform." The Globe's David Leeder writes that Mr. Bir gave his unit target a $2 trim to $16. Analysts on average target the units at $16.92. Mr. Bir says in a note: "Post a weak Q3, our confidence in the outlook for Allied Properties remains shaky at best. While broader office fundamentals are improving, we expect Allied Properties' portfolio to lag the recovery. Our earnings estimates took another step back, although admittedly, there are multiple moving parts. After several years of defending the distribution, a cut is finally under consideration and rightfully so. With an elevated payout ratio, leverage well above our comfort zone, and slow asset sales, we see good probability of a cut. Despite the sizable unit price pullback, we reiterate our 'sector perform.'" The Globe reported on Aug. 1 that Mr. Bir had reiterated his "sector perform" recommendation for Allied Properties. The units were then going for $17.08. The Globe reported on Aug. 16 that Desjardins Securities analyst Lorne Kalmar had downgraded Allied Properties to "sell" from "hold." It was then worth $20.83.