The Globe and Mail reports in its Friday edition that National Bank analyst Matt Kornack and Giuliano Thornhill have reaffirmed their "outperform" recommendation and $22.50 unit target for RioCan REIT. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the units at $20.50. Mr. Kornack and Mr. Thornhill say in a note: "We have fluctuated back and forth between RioCan and First Capital REIT, but recent trading outperformance of the latter has tilted the total return equation in favour of the former. It is worth noting that First Capital has likely benefitted from the still pervasive M&A theme (where it has remained a top contender for a strategic merger/privatization). Nonetheless, RioCan has been putting up some of the strongest rent growth in our retail coverage universe and seems poised to see continued success in its core retail segment. On the latter, it identified a 25- to 30-per-cent MTM opportunity in the portfolio today, albeit with a longer weighted average lease term structurally impeding it from accessing this in the near term but nonetheless providing a long-term trajectory for above-inflationary growth. 2025 was a noisy year, we expect 2026 to be less so."