The Globe and Mail reports in its Wednesday, July 19, edition that National Bank Financial analysts Matt Kornack and Tal Woolley have reaffirmed their "sector perform" recommendation for H & R REIT. The Globe's David Leeder writes that Mr. Kornack and Mr. Woolley trimmed their unit target by 75 cents to $11.25. Analysts on average target the units at $13.92. The National Bank stockpickers say in a note: "Within the diversified group, H & R remains our top focus idea, driven by earnings growth exposure to multi-family assets in growing U.S. markets and industrial development lease-up around the GTA combined with a better balance sheet and limited office maturities. However, recent governance and management issues have weighed on the stock and will likely continue to do so in the context of a muted outlook for transaction activity for the balance of 2023. While we think H & R should trade at a narrower discount, investors are cautious on the pace of reaching strategic milestones considering more challenged transaction markets." The Globe reported on May 18 that Scotia Capital analyst Mario Saric was sticking with his "sector perform" call on H & R REIT. The units could then be had for $10.33.