The Globe and Mail reports in its Tuesday edition that Desjardins Securities analyst Kyle Stanley has reaffirmed his "buy" recommendation for Canadian Net REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Stanley trimmed his unit target by a loonie to $6. Analysts on average target the units at $6.59. While Canadian Net's first quarter results came in "largely as expected," Mr. Stanley says he has "tempered" his view on the REIT, citing its "limited organic growth profile and elevated leverage." On May 24, the REIT, which focuses on triple net and management-free retail properties, reported funds from operations per unit of 15.7 cents, up 3.8 per cent year-over-year and above Mr. Stanley's 14.2-cent estimate. Mr. Stanley says in a note: "Broader market volatility and interest rate uncertainty continue to depress transaction volumes. ... A fractional negative variance within NOI was more than offset by positive variances within G&A and unit-based compensation. Total portfolio occupancy was unchanged sequentially at 100 per cent, while one remaining lease maturity in 2023 has not yet been renewed. Moreover, almost 40 per cent of the 2024 lease maturities have already been addressed."