The Globe and Mail reports in its Friday edition that Canaccord Genuity analyst Mark Rothschild, citing recent unit price weakness, upgraded Canadian Apartment Properties REIT to "buy" from "hold," with an unchanged unit target of $53.50. The Globe's David Leeder writes that analysts on average target the units at $56.29. Mr. Rothschild says in a note: "CAP REIT's units currently trade at a 3.7-per-cent discount to our NAV estimate, or an implied cap rate of 5.2 per cent. On a cash flow multiple basis, CAP REIT is trading at 19.2 times our 2025 AFFO estimate, compared to the weighted average of 18.6 times for its Canadian residential REIT peers. REIT unit prices have been negatively impacted by the rent increase in bond yields, residential REITs in particular. We view the drop in the unit price as an attractive entry point for a large, high-quality rental apartment REIT and upgrade our rating." The Globe reported on April 7, 2022, Mr. Rothschild had reaffirmed his "buy" call for CAP REIT. The units were then worth $51.56. The Globe reported on April 25, 2024, that National Bank Financial analyst Matt Kornack had reaffirmed his "outperform" recommendation for CAP REIT. The units could then be had for $43.