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

Dream Office Real Estate Investment Trst (TSE:D.UN)’s stock price hit a new 52-week high on Tuesday following insider buying activity. The stock traded as high as C$30.47 and last traded at C$30.46, with a volume of 15016 shares changing hands. The stock had previously closed at C$30.37.

Specifically, Senior Officer Dream Asset Management Corporation purchased 30,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average price of C$29.59 per share, for a total transaction of C$902,400.45. Following the purchase, the insider now directly owns 3,297,123 shares in the company, valued at C$97,551,648.49. Also, Director Michael Cooper purchased 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of C$30.08 per share, with a total value of C$439,168.00. Following the purchase, the director now owns 10,080,838 shares in the company, valued at C$303,231,607.04. Insiders have purchased 267,100 shares of company stock worth $7,943,013 over the last three months.

Several analysts have commented on the company. Canaccord Genuity raised their price objective on Dream Office Real Estate Investment Trst from C$26.00 to C$29.00 in a report on Wednesday, September 4th. Royal Bank of Canada upped their target price on 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 note on Friday, November 15th. National Bank Financial increased 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 research report on Wednesday, October 16th. CIBC upped their price objective on shares of Dream Office Real Estate Investment Trst from C$27.00 to C$30.50 in a research report on Monday, November 11th. Finally, TD Securities upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Dream Office Real Estate Investment Trst presently has an average rating of “Hold” and an average price target of C$29.42.

The company has a debt-to-equity ratio of 84.71, a quick ratio of 0.14 and a current ratio of 0.16. The stock has a market capitalization of $1.71 billion and a PE ratio of 15.24. The stock’s 50 day moving average is C$29.61 and its two-hundred day moving average is C$26.41.

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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