The Globe and Mail reports in its Friday that ATB Cormark Capital Markets analyst Sairam Srinivas has lowered his unit target for Dream Impact Trust to $3.50, down from $4.40, but still sees significant upside for the purpose-built rental company. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Srinivas continues to rate Dream Impact "speculative buy." Dream Impact's debt maturities are weighing on the trust's price but Mr. Srinivas believes the future shows promise. Mr. Srinivas says in a note: "While the current market for purpose-built rentals is soft, Dream Impact's portfolio of purpose-built rentals, which is expected to account for [about] 90 per cent of the trust's value by 2030, will be competitively positioned (from a quality perspective) post market recovery. Dream Impact's current unit price is significantly below our target which only values the income-producing assets, offering investors with a long-term holding appetite a very healthy margin of safety." The goal is for the trust to own about 2,300 rental units by 2030 with multi-family forming about 90 per cent of the trust's asset base. The Globe reported on Nov. 14 that TD rated Dream Impact "hold." It was then worth $1.44.