The Globe and Mail reports in its Thursday, April 4, edition that Desjardins Securities analyst Alexander Leon, currently the lone analyst covering Inovalis REIT, reduced his unit target to $1 from $1.25 with a "hold" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Leon says in a note: "Inovalis REIT reported 4Q23 operating results after market close on March 28 which were below our expectations. Total portfolio occupancy continues to trend lower, and progress on the asset recycling program was limited. However, management is beginning to execute on the simplification of the corporate structure. Our revised forecast continues to reflect conservative assumptions and excludes any asset sales or capital redeployment—execution provides upside." The Globe reported on April 20, 2023, that Mr. Leon started coverage on Inovalis REIT with a "hold" recommendation and $4.50 unit target. The units could then be had for $3.45. The units finished Wednesday at $1.21.