Dream Office Real Estate Investment Trst (TSE:D.UN) Upgraded to Outperform by BMO Capital Markets

Dream Office Real Estate Investment Trst (TSE:D.UN) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, BayStreet.CA reports. The brokerage presently has a C$28.00 target price on the real estate investment trust’s stock, up from their previous target price of C$26.00. BMO Capital Markets’ price objective would indicate a potential upside of 13.45% from the stock’s previous close.

TSE D.UN traded up C$0.43 during trading hours on Wednesday, hitting C$24.68. 231,078 shares of the company’s stock traded hands, compared to its average volume of 162,381. The company’s 50-day moving average is C$24.16. Dream Office Real Estate Investment Trst has a 52-week low of C$23.27 and a 52-week high of C$24.70. The company has a quick ratio of 0.12, a current ratio of 0.14 and a debt-to-equity ratio of 96.04. The company has a market cap of $1.47 billion and a P/E ratio of 10.78.

In other news, Director Michael Cooper purchased 18,100 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was acquired at an average price of C$23.49 per share, with a total value of C$425,226.92. Following the purchase, the director now directly owns 9,485,338 shares in the company, valued at approximately C$222,840,942.70. Also, Director Detlef Bierbaum sold 14,650 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of C$23.56, for a total transaction of C$345,190.63. Following the completion of the sale, the director now directly owns 59,988 shares of the company’s stock, valued at approximately C$1,413,467.25. In the last three months, insiders bought 329,200 shares of company stock valued at $7,721,031.

About Dream Office Real Estate Investment Trst

Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT owns well-located, high-quality central business district office properties in major urban centres across Canada, with a focus on downtown Toronto.

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Analyst Recommendations for Dream Office Real Estate Investment Trst (TSE:D.UN)

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