The Globe and Mail reports in its Tuesday, Nov. 18, edition that RBC Capital Markets analyst Pammi Bir has reaffirmed is "sector perform" recommendation for Dream Office REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bir boosted his unit target by a loonie to $18. Analysts on average target the units at $19.44. Mr. Bir says in a note: "Overall, we see a few puts and takes post Q3 results. As broader office fundamentals regain traction, we expect operating momentum in Dream's Toronto portfolio to gradually improve in the year ahead. The recent formation of a new development JV in Calgary also helps mitigate project risks. However, our earnings estimates took another step back on a shortfall in underlying results and an anticipated drag from its sole U.S. asset." The Globe reported on May 27 that Mr. Bir had reiterated his "sector perform" recommendation for Dream Office. The units could then be had for $14.54. The Globe reported on Nov. 11 that National Bank Financial analyst Matt Kornack was keeping his "sector perform" recommendation for Dream Office intact. The units were then going for $17.20.
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