The Globe and Mail reports in its Thursday, Aug. 15, edition that Scotia Capital analyst Mario Saric continues to rate Dream Office REIT "sector perform." The Globe's David Leeder writes that Mr. Saric boosted his unit target to $19.50 from $19. Analysts on average target the units at $18.83. Mr. Saric says in a note: "We maintain our 'sector perform' rating with most key estimates largely intact, a bit better than both AP and Sector following a decent Q2. As Dream put it, the market seems to be a bit of 'snakes and ladders' with occupancy gains in pockets of the portfolio offset by erosion elsewhere (in-place occupancy was down 10bp quarter-over-quarter at 79.2 per cent, consistent with market). That said, we think addressing market concerns over liquidity and leverage (remains very high) is the primary near-term catalyst, with no news on that front in Q2. In the context of the North American office market and elevated leverage, we believe Dream is fairly valued at 10 times 2025E AFFO (or an est. 7.6 times assuming a 14 times multiple for DIR, which equals approximately 25 per cent of Dream 2024E/2025E FFO)." The Globe reported on April 5 that Mr. Saric rated Dream "sector perform." It was then worth $17.01.