The Globe and Mail reports in its Friday edition that BMO Capital Markets analyst Michael Markidis has reaffirmed his "market perform" recommendation for Automotive Properties REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Markidis trimmed his unit target back by a loonie to $11.50. Analysts on average target the units at $12.15. Mr. Markidis says in a note: "Automotive Properties reported Q3/23 results that were in line with our expectations. Investment activity has been subdued following an active H1/23. However, Automotive Properties' solid balance sheet should allow the REIT to continue capitalizing on growth opportunities, in our view. We've trimmed our target price to reflect an increase to our cap rate assumption (up 25 basis points to 6.8 per cent) and a modest downward revision to our 2024 estimated FFOPU [funds from operations per unit] due to higher interest expenses." The Globe reported on March 21 that Desjardins Securities rated Automotive Properties "hold." The units could then be had for $11.55. The Globe reported on May 16 that Canaccord Genuity analyst Mark Rothschild rated Automotive Properties "buy," up from "hold." The units could then be had for $11.49.