The Globe and Mail reports in its Tuesday, May 27, edition that RBC Dominion Securities analyst Pammi Bir has reaffirmed his "sector perform" recommendation for Dream Office REIT. The Globe's David Leeder writes that Mr. Bir gave his unit target a $3 trim to $16. Analysts on average target the units at $17.06. Mr. Bir says in a note: "In the context of weak office fundamentals and persistently high levels of macro uncertainty, we expect organic growth to remain subdued. As well, there's still some major work ahead in balance sheet repair. While the sale of Dream units marks a step forward in the process, it comes at a dilutive cost. Bottom line, we remain on the sideline." On May 8, the Toronto-based REIT reported headline funds from operations per unit of 68 cents, down 7 per cent year-over-year but exceeding Mr. Bir's forecast by three cents as well as the consensus projection on the Street by a penny. Net operating income came in narrowly higher than fiscal 2024 (up 0.2 per cent) with a narrow drop in Toronto offset by growth elsewhere. While he calls the results "neutral," he emphasizes the impact of its sale of $62-million in Dream Industrial units, seeing "balance sheet repair take priority over dilution."