The Globe and Mail reports in its Friday, Dec. 22, edition that RBC Dominion Securities analysts Pammi Bir, Jimmy Shan and Tom Callaghan have reaffirmed their "outperform" recommendation and $23 unit target for Killam Apartment REIT. The Globe's David Leeder writes that analysts on average target the units at $21.29. Mr. Bir, Mr. Shan and Mr. Callaghan see "support for stronger 2024 returns and fund flows" for Canadian real estate investment trusts, pointing to "an anticipated pivot to monetary easing, moderate economic growth, stabilizing long-bond yields, healthy earnings growth and reasonable valuations." The RBC analysts say in a note: "With the BOC tightening cycle seemingly done, rate cuts anticipated to start in Q2/24, and forecasts for long-bond yields to stabilize at levels well below the early October highs (based on RBC Economics' calls), we think the setup for 2024 looks better. Indeed, as recent weeks have demonstrated, a rally in the sector could be front-end loaded as Canadian REITs have a strong track record of outperformance in the three to 12 months leading up to the initial rate cut of past easing cycles. As well, we believe the sector remains on sound footing to navigate an economic slowdown."