The Globe and Mail reports in its Tuesday, Sept. 12, edition that Canaccord Genuity analyst Mark Rothschild is sticking with his "hold" recommendation on Dream Office REIT. The Globe's David Leeder writes that Mr. Rothschild targets the units at $13. Analysts on average target Dream Office units at $14.31. The Globe says Mr. Rothschild expects Dream Office REIT to continue to feel the impact of the "considerable pressure on office fundamentals at this time." He says, "There is no visibility on when a firm recovery will take hold." Mr. Rothschild says in a note: "After divesting most of its Western Canada and suburban portfolio, Dream Office is now heavily exposed to downtown Toronto which represents 82 per cent of its value. The assets are well-located and many have been recently improved. However, vacancy in the downtown Toronto office market has risen materially and the REIT's cash flow has been under pressure. Net effective rents are down dramatically, and it will likely take a number of years for this to improve. ... Over the long term, we believe the portfolio is significantly more valuable than the current unit price, although with sluggish office fundamentals expected to persist, we remain cautious."