19:56:09 EDT Wed 08 May 2024
Enter Symbol
or Name
USA
CA



Dream Office Real Estate Investment Trust
Symbol D
Shares Issued 32,624,637
Close 2023-11-21 C$ 8.86
Market Cap C$ 289,054,284
Recent Sedar Documents

Globe says Dream leverage above Bir's "comfort zone"

2023-11-22 08:07 ET - In the News

The Globe and Mail reports in its Wednesday, Nov. 22, edition that RBC Capital Markets analyst Pammi Bir continues to rank Dream Office REIT "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Bir slashed his unit target back by $5 to $10. Analysts on average target the units at $9.49. Mr. Bir says in a note: "Post Q3 results that were short of our call, we dialled back our outlook on Dream Office REIT. On the one hand, operational progress is being made with committed occupancy trending higher and organic NOI growth at healthy levels. However, higher interest costs and a substantial uptick in leasing expenditures are putting pressure on our AFFOPU forecasts, while leverage is above our comfort zone." The Globe reported on Nov. 10, 2022, that Mr. Bir was sticking with his "outperform" recommendation for Dream Office. The units were then going for $16. The Globe reported on Sept. 12, 2023, that Canaccord Genuity analyst Mark Rothschild said he was "cautious" on Dream Office, which he rated "hold." The units were then worth $11.96. The Globe reported on Nov. 14, 2023, that Desjardins Securities analyst Lorne Kalmar rated Dream "hold." It was then worth $8.64.

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