The Globe and Mail reports in its Friday, March 22, edition that Canaccord Genuity analyst Zachary Weisbrod upgraded Canadian Net REIT to "buy" from "hold," citing an attractive valuation of the triple-net-lease portfolio. The Globe's David Leeder writes that Mr. Weisbrod boosted the firm's target for units of Canadian Net to $5.50 from $5. Analysts on average target the units at $5.69. Mr. Weisbrod says in a note: "Our investment thesis is based on the fact that the REIT owns a stable portfolio leased to necessity-based tenants on triple-net-leases resulting in steady cash flow. Further, fundamentals are healthy, in our view, which should lead to steady rent growth. The REIT operates with a conservative payout ratio, allowing for retained capital to fund growth, and is currently trading at an attractive valuation. ... Canadian Net currently trades at an implied cap rate of 7.9 per cent and 7.3 times 2025 estimated AFFO, below the average multiple of 12.2 times over the past four years. Canadian retail REITs and U.S. triple-net-lease REITs trade at an average 2025E AFFO multiple of 12.8 times and 13.2 times. Notwithstanding the discount to the historical average multiple, retail fundamentals in Canada are healthy."