Dream Office Real Estate Investment Trst (TSE:D.UN) Reaches New 52-Week High After Insider Buying Activity

Shares of Dream Office Real Estate Investment Trst (TSE:D.UN) hit a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as C$30.94 and last traded at C$30.88, with a volume of 9783 shares trading hands. The stock had previously closed at C$30.95.

Specifically, Director Michael Cooper purchased 71,100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of C$29.60 per share, for a total transaction of C$2,104,645.32. Following the completion of the purchase, the director now directly owns 9,850,038 shares in the company, valued at approximately C$291,572,944.85. Also, Senior Officer Dream Asset Management Corporation acquired 30,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of C$29.59 per share, for a total transaction of C$902,400.45. Following the transaction, the insider now directly owns 3,297,123 shares of the company’s stock, valued at approximately C$97,551,648.49. Insiders have bought 475,600 shares of company stock worth $14,297,861 in the last three months.

D.UN has been the subject of a number of recent research reports. National Bank Financial lifted their target price on Dream Office Real Estate Investment Trst from C$27.00 to C$30.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. CIBC boosted their target price on Dream Office Real Estate Investment Trst from C$27.00 to C$30.50 in a research note on Monday, November 11th. TD Securities upped their price target on Dream Office Real Estate Investment Trst from C$27.00 to C$29.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Canaccord Genuity increased their price target on Dream Office Real Estate Investment Trst from C$26.00 to C$29.00 in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their price objective on Dream Office Real Estate Investment Trst from C$27.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$29.42.

The business’s 50 day moving average is C$29.78 and its 200-day moving average is C$26.67. The company has a debt-to-equity ratio of 84.71, a current ratio of 0.16 and a quick ratio of 0.14. The company has a market cap of $1.74 billion and a PE ratio of 15.57.

About Dream Office Real Estate Investment Trst (TSE:D.UN)

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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