The Globe and Mail reports in its Thursday, April 24, edition that Canaccord Genuity analyst Zachary Weisbrod commenced coverage on Timbercreek Financial with a "buy" ranking and an $8 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $7.67. Mr. Weisbrod says in a note: "Our price target is set at a price-to-book multiple of 0.9 times, below the historical average of one times, reflecting elevated credit loss allowances driven by loans underwritten prior to the rise in bond yields in 2022. As a mortgage investment corporation (MIC), Timbercreek is required to distribute all income to shareholders through dividends. As a result, Timbercreek provides investors with an attractive dividend yield (10.5 per cent), supported by distributable income generated from a portfolio of loans secured by first mortgages and income-producing properties. We believe Timbercreek's units present excellent value both on a historical basis and relative to industry peers. As the company progresses through reducing credit risk on impaired loans from asset sales and repayments, we expect the valuation to improve materially."