The Globe and Mail reports in its Friday, Feb. 16, edition that Scotia Capital analyst Mario Saric continues to rate H & R REIT "sector perform." The Globe's David Leeder writes that Mr. Saric trimmed his unit target to $11 from $11.75. Mr. Saric says in a note: "We still view H & R as a late 2024/early 2025 story as two key unit price catalysts become 'near-term.' First, we believe U.S. Sunbelt residential sentiment needs to improve on peak supply absorption. Second, we think the disposition of CAD Office properties rezoned with residential intensification is critical, something that may also be nine to 12 months out. In essence, H & R's transformational plan involves selling office and retail to become a 'growth' REIT focused on U.S. Sunbelt Residential and CAD Industrial, both asset classes dealing with mixed investor sentiment presently. Once that changes, we think H & R's unit price will as well (perhaps on a lagged basis) as valuation has room to move higher." The Globe reported on Nov. 21 that Mr. Saric rated H & R "sector perform." It was then worth $8.98. The Globe reported on Nov. 17 and Jan. 30 that National Bank rated H & R "sector perform." It was then worth $9.12 and $9.96.