The Globe and Mail reports in its Wednesday, Aug. 9, edition that Desjardins Securities analyst Kyle Stanley has reaffirmed his "buy" recommendation for Canadian Apartment Properties REIT. The Globe's David Leeder writes that Mr. Stanley knocked his Canadian Apartment Properties unit target back by a loonie to $58. Analysts on average target the shares at $56.82. Mr. Stanley says in a note: "Top-line growth drivers remain intact as Canadian Apartment Properties REIT achieved record leasing spreads in 2Q; however, higher-than-expected opex drove a modest reduction to our NOI and FFOPU outlook. [CAP REIT] continues to unearth value in non-core asset dispositions, which (1) enable it to advance its portfolio modernization strategy (new build acquisitions, asset-light development); and (2) reduce costly variable-rate debt." The Globe reported on Sept. 3 that Mr. Stanley said the REIT's "size, liquidity and stable cash flow profile are attractive in the event of slowing economic activity." CAP REIT units were then worth $44.58. The Globe reported on July 18 that Raymond James's Brad Sturges had cut CAP REIT to "outperform" from "strong buy." The units were then worth $52.51.