The Globe and Mail reports in its Tuesday, Aug. 11, edition that National Bank Financial analyst Matt Kornack has reiterated his "sector perform" recommendation for Dream Office REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kornack gave his unit target a 50-cent boost to $20.50. Analysts on average target the units at $21.19. Mr. Kornack says in a note: "On face value the earnings print looked strong for Dream Office this quarter with a sizable positive variance on accounting NOI. While the results point to incremental improvement in leasing and occupancy, we expect some normalization in Q3 accounting for lumpy items including percentage of rent received after breaching a performance threshold for a co-working tenant), early recognition of occupancy gains through straight-line rent and seasonality on the margin front (which is exacerbated given lower occupancy levels). The end result was a positive albeit more muted adjustment to 2026 and 2026 estimates." The Globe reported on Dec. 9, Feb. 6, April 21 and May 12 that Mr. Kornack continued to rate Dream Office REIT "sector perform." The units could then be had for $17.27, $19.26, $16.75 and $17.42.
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