Canadian Net REIT: Compelling Valuation Even As Book Value Discount Largely Disappears

Canadian Net REIT has outperformed international REIT peers so far in 2026, benefiting from its attractive valuations and geographic focus on Canada. The company reported 12% adjusted FFO growth in 2025, driven by portfolio growth, attractive leasing spreads, retained earnings, and locked-in rates on legacy mortgages. The leasing market remains favorable in 2026, which, coupled with limited mortgage maturities, points to another year of mid-to-high single-digit AFFO growth.