The Financial Post reports in its Wednesday edition that TD Securities analyst Sam Damiani hiked his rating on InnVest Real Estate Investment Trust ($5.39) to "buy" from "hold" following its $140-million purchase of the Hyatt Regency Vancouver. The Post's Jonathan Ratner writes in the Trading Desk column that Mr. Damian resumed coverage of InnVest following its $63-million equity offering and $47-million private placement. Mr. Damiani also upgraded his target on the stock to $6 from $5. Calling the hotel a "trophy asset" due to its location in the heart of downtown Vancouver where available land is scarce, Mr. Damiani says InnVest continues to improve the quality of its portfolio. This is InnVest's second acquisition in the past two months, following its deal for Toronto's Fairmont Royal York Hotel. Mr. Damiani says, "We believe that this acquisition demonstrates management's increased focus on driving additional growth through acquisitions." The analyst believes this and future acquisitions will be accretive on an adjusted funds from operations basis and neutral in terms of leverage. Mr. Damiani says InnVest is evolving into "what could be a go-to name for investors seeking growth in the Canadian hotel industry."