The Globe and Mail reports in its Friday, Nov. 24, edition that Desjardins Securities analyst Kyle Stanley has lowered his recommendation for Canadian Net REIT to "hold" from "buy." The Globe's David Leeder writes that Mr. Stanley gave his unit target at 25-cent cut to $5.25. Analysts on average target the units at $5.65. The Globe says Mr. Stanley believes Canadian Net REIT's "near-term upside is limited." He says lower interest rates are necessary before a resumption in transaction activity emerges. Mr. Stanley says in a note: "In the current high-cost-of-capital environment, Canadian Net's external growth program, which generates the bulk of its cash flow growth, has been sidelined -- our 2024 FFOPU [funds from operations per unit] outlook calls for 1.5-per-cent growth. ... Transaction activity remains muted given the persistently wide bid–ask spreads. However, Canadian Net REIT completed the previously announced sale of a single-tenant QSR property in Trois-Rivieres, Quebec, for $1.3-million in 3Q23, representing a 5.6-per-cent cap rate and 26-per-cent premium above IFRS value." The Globe reported on Jan. 27, 2022, that Mr. Stanley rated Canadian Net "buy" in new coverage. It was then worth $8.10.