The Globe and Mail reports in its Wednesday, Dec. 17, edition that analysts at Desjardins Securities say it is "challenging to develop a compelling thesis that supports anything beyond another year of middling results" for Canadian real estate equities in 2026. The Globe's David Leeder writes that Desjardins analysts Kyle Stanley, Lorne Kalmar and Alexander Leon have reiterated their "buy" call and $24 share target for Sienna Senior Living. Analysts on average target the shares a $22.38. The Desjardins analysts say in a note: "Consequently, we are once again calling for total returns in the range of 5 to 10 per cent. In our view, an increase in fund flows into the REIT sector is key to pushing total returns beyond the 10-per-cent range. While valuations remain attractive, particularly in comparison with the broader TSX, a lacklustre economic outlook, limited M&A prospects and investors preferring high momentum ideas such as AI and precious metals leads us to conclude that it will be difficult for REITs to attract sufficient levels of new capital necessary to generate outsized gains in the coming year. That said, we still see attractive asset class and name-specific opportunities that should yield superior returns."