The Globe and Mail reports in its Friday, Feb. 23, edition that RBC Capital analyst Pammi Bir is keeping his "outperform" recommendation for SmartCentres REIT intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bir cut his unit target back by a loonie to $28. Analysts on average target the units at $26.09. Mr. Bir says in a note: "Post results that were modestly below our call, we trimmed our estimates and PT on SmartCentres. Still, we believe its defensive, Walmart anchored portfolio is in strong form to navigate elevated economic uncertainties. Indeed, operating metrics remain in solid shape, with organic growth anticipated to exceed long-term levels. As well, we expect developments to provide a complementary source of long-term growth. At a near-8-per-cent implied cap rate, we continue to see good value." The Globe reported on Dec. 22 that Mr. Bir had reaffirmed his "outperform" recommendation and $29 unit target for SmartCentres REIT. The units could then be had for $24.53. The Globe's John Heinzl recommended buying Smart Centres REIT on Jan. 15. Units could then be had for $25.43.