The Globe and Mail reports in its Friday, Feb. 27, edition that Canaccord Genuity analyst Mark Rothschild has lowered his recommendation for BTB REIT to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Rothschild continues to target the units at $4.25. Analysts on average target the units at $3.67. Mr. Rothschild says in a note: "We now utilize a blended cap rate of 7.20 per cent to value BTB's portfolio, and our NAV per unit estimate is $4.12, from $3.97 previously. Our price target remains $4.25, set at a slight premium to our NAV estimate. Over the past year, BTB units have generated a return of 37.8 per cent, above the average of 11.7 per cent for diversified peers and the REIT index of 14.9 per cent. Reflecting the more modest total return expected. ... BTB's units currently trade at an implied cap rate of 7.2 per cent or a 1.4-per-cent premium to our NAV estimate of $4.12. This compares to the REIT's peers, which trade at a discount to NAV of, on average, 27.8 per cent. On cash flow multiple basis, BTB currently trades at 10.9 times our estimate of 2027 AFFO, compared to, on average, 13.1 times for its peers."