Canaccord Genuity analyst Mark Rothschild maintained a Hold rating on Dream Office Real Estate Investment today and set a price target of C$17.00.
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Mark Rothschild’s rating is based on a combination of factors impacting Dream Office Real Estate Investment. The downtown Toronto office market is showing early signs of recovery, with a notable decrease in sublease space and a slight increase in committed occupancy. However, these improvements are not expected to lead to a rapid enhancement in operating performance, suggesting only gradual cash flow growth.
Despite a slight increase in the net asset value estimate, the funds from operations per unit decreased by 18.4% year-over-year, influenced by the sale of investments and higher interest expenses from refinancing. Although there was some growth in same-property net operating income, it was not enough to offset the overall decline in occupancy rates. These mixed signals led to a Hold rating, reflecting cautious optimism about future performance improvements.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a C$16.50 price target.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DRETF in relation to earlier this year.