BMO Capital Markets Lowers Dream Office Real Estate Investment Trst (TSE:D.UN) Target Price to C$23.00

Dream Office Real Estate Investment Trst (TSE:D.UN – Get Note) had its target price reduced by BMO Capital Markets research analysts from C$24.50 to C$23.00 in a report released Wednesday, BayStreet.CA reports. The BMO Capital Markets price target indicates upside potential of 16.75% from the current share price.

Several other brokerages also commented on D.UN. Cormark lowered its price target on shares of Dream Office Real Estate Investment Trst from C$27.00 to C$20.50 in a Tuesday, August 9 research report. National Bankshares raised its price target on Dream Office Real Estate Investment Trst from CA$19.00 to CA$20.00 and gave the company an ‘industry performance’ rating in a Monday, August 8 research note . Royal Bank of Canada lowered its price target on Dream Office Real Estate Investment Trst from CA$22.00 to CA$21.00 and set an “industry performance” rating for the company in a research report from the Monday, August 8. CIBC lowered its price target on Dream Office Real Estate Investment Trst from C$27.00 to C$24.00 in a Monday, August 8 research report. Finally, Scotiabank lowered its price target on Dream Office Real Estate Investment Trst from C$26.25 to C$24.00 in a Monday, August 8 report. Three equity research analysts gave the stock a hold rating and three gave the company a buy rating. Dream Office Real Estate Investment Trst has a consensus rating of ‘Moderate Buy’ and a consensus target price of C$23.00, based on MarketBeat data.

Dream Office Real Estate Investment Trst Stock down 1.6%

Dream Office Real Estate Investment Trst stock traded at C$0.32 midday Wednesday, hitting C$19.70. 73,709 shares were traded, against an average volume of 138,318. Dream Office Real Estate Investment Trst has a 52-week low of C$18.52 and a 52-week high of C$30.53. The stock has a market cap of C$926.59 million and a price-to-earnings ratio of 4.55. The company’s 50-day moving average price is CA$19.70 and its 200-day moving average price is CA$23.69. The company has a quick ratio of 0.10, a current ratio of 0.14 and a debt ratio of 82.70.

Insider activity

Separately, insider Artis Real Estate Investment Trust bought 28,500 shares of the company in a trade that took place on Wednesday, July 13. The shares were acquired at an average price of CA$18.94 per share, for a total value of CA$539,915.40. Following the acquisition, the insider now owns 5,416,573 shares of the company, valued at approximately C$102,613,725.54. Insiders acquired a total of 130,300 shares of the company worth $2,522,918 during the last quarter.

About Dream Office Real Estate Investment Trst

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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 centers across Canada, with an emphasis on downtown Toronto.

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