Dream Office Real Estate Investment Trst (TSE:D.UN) Hits New 1-Year High at $33.79

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Shares of Dream Office Real Estate Investment Trst (TSE:D.UN) hit a new 52-week high during trading on Thursday . The company traded as high as C$33.79 and last traded at C$33.73, with a volume of 28207 shares changing hands. The stock had previously closed at C$33.57.

A number of analysts have commented on the stock. CIBC upped their target price on shares of Dream Office Real Estate Investment Trst from C$27.00 to C$30.50 in a report on Monday, November 11th. TD Securities upped their price target on shares of Dream Office Real Estate Investment Trst from C$27.00 to C$29.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada upped their price target on shares of Dream Office Real Estate Investment Trst from C$27.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Friday, November 15th. Finally, National Bank Financial upped their price target on shares of Dream Office Real Estate Investment Trst from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of C$29.92.

The firm has a market capitalization of $1.93 billion and a P/E ratio of 17.12. The stock’s 50-day simple moving average is C$32.26 and its two-hundred day simple moving average is C$29.36. The company has a debt-to-equity ratio of 84.71, a current ratio of 0.16 and a quick ratio of 0.14.

In other news, Director Michael Cooper purchased 64,300 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was acquired at an average cost of C$30.82 per share, for a total transaction of C$1,981,732.43. Following the completion of the transaction, the director now directly owns 11,555,002 shares in the company, valued at approximately C$356,126,317.14. Also, Senior Officer Dream Asset Management Corporation bought 30,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of C$29.59 per share, with a total value of C$902,400.45. Following the transaction, the insider now owns 3,297,123 shares of the company’s stock, valued at approximately C$97,551,648.49. Over the last quarter, insiders acquired 821,464 shares of company stock valued at $24,958,574.

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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