The Globe and Mail reports in its Thursday, Aug. 7, edition that National Bank Financial analyst Matt Kornack has reaffirmed his "sector perform" recommendation for BTB REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kornack gave his unit target a 10-cent trim to $3.30. Analysts on average target the units at $3.66. Mr. Kornack says in a note: "BTB's print was below expectations as headline figures were impacted by non-cash adjustments as a result of a tenant bankruptcy (subsequently re-leased) in Edmonton and reduced rental term and rate on Lion Electric. On ops the results were weak this quarter as occupancy slipped by 90 and 130 basis points on an in-place and committed basis, respectively, given non-renewals (lease-up not expected imminently). Leasing spreads held in at around 5 per cent but were not enough to offset the occupancy loss resulting in SPNOI growth of negative 1.5 per cent. The REIT did sell two small properties in Q2/Q3 which will incrementally help on the liquidity front, while there are multiple properties in different stages of negotiation on both the acquisition and disposition front."