The Globe and Mail reports in its Wednesday, Sept. 23, edition that National Bank of Canada analyst Giuliano Thornhill commenced coverage on Canadian Net REIT with a "sector perform" rating and a $7 unit target. The Globe's Darcy Keith writes in the Eye On Equities column that analysts on average target the units at $7.46. Mr. Thornhill advises investors to seek other options in the REIT sector due to the small-cap's low liquidity and limited tradable units. Canadian Net REIT has a predominantly management-free net-lease portfolio of single site properties in secondary markets. Mr. Thornhill says in a note: "Its small scale and organic growth profile make M&A essential. An amortizing mortgage book may periodically release equity for reinvestment and provides significant torque to low rates, especially its Q4'27 loan. However, at today's valuation and given these traits, we view competing retail options in our coverage as more attractive, which supply greater growth, liquidity and suitability to a higher-for-longer environment. At 9.5 times 2026E funds from operations, the units screen inexpensive, though trade at 5.6 per cent below our $6.90 NAV. We view vacancy risk as limited across its properties."