The Globe and Mail reports in its Tuesday, March 5, edition that RBC Capital analyst Jimmy Shan has reaffirmed his "sector perform" recommendation for Artis REIT. The Globe's David Leeder writes that Mr. Shan gave his unit target a $1 trim to $6.50. Analysts on average target the units at $7. Mr. Shan says in a note: "Artis REIT reported FFO/unit of 25 cents, down 17 per cent year-over-year, vs. RBC/Consensus of 27 cents/27 cents. Not surprisingly, Artis REIT cannot find a buyer for entire REIT and is continuing with its disposition program with $572-million held for sale. Distribution was unchanged despite Q4 payout ratio at 107 per cent and Q4 reported AFFO declining 25 per cent year-over-year. We estimate distribution could survive until '25 if we see lower rates, further asset sale closings to pay down debt and higher contribution from 300 Main. In the meantime, liquidity is tight but manageable as long as facilities are extended." The Globe said Artis REIT was a good contrarian play on Sept. 29, 2022, when it was worth $9.25. The Globe reported on May 20, 2023, and Nov. 7, 2023, that Scotia Capital analyst Mario Saric rated Artis REIT "sector perform." The units could then be had for $7.02 and $6.53.