Canaccord Genuity Group Issues Positive Forecast for Dream Industrial Real Estate Invest Trst (TSE:DIR.UN) Stock Price

Key Points

• Canaccord Genuity raised its price target for Dream Industrial REIT from C$15.50 to C$16.50 and reaffirmed a “buy” rating, implying 18.53% upside from the reported C$13.92 share price.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy, while the consensus target is C$15.47. TD and Desjardins also recently increased their targets.
• Dream Industrial reported quarterly revenue of C$131.42 million and earnings of C$0.11 per share; its portfolio consists primarily of industrial properties across Canada, the U.S. and Europe.

Dream Industrial Real Estate Invest Trst (TSE:DIR.UN - Get Free Report) had its price objective hoisted by stock analysts at Canaccord Genuity Group from C$15.50 to C$16.50 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 18.53% from the company's current price.

Other analysts have also issued research reports about the company. TD upped their target price on Dream Industrial Real Estate Invest Trst from C$15.00 to C$15.50 and gave the company a "buy" rating in a report on Thursday, May 7th. Desjardins lifted their price target on Dream Industrial Real Estate Invest Trst from C$15.50 to C$16.00 and gave the stock a "buy" rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Dream Industrial Real Estate Invest Trst has an average rating of "Buy" and an average target price of C$15.47.

Dream Industrial Real Estate Invest Trst Price Performance

Shares of DIR.UN stock traded down C$0.49 during midday trading on Thursday, reaching C$13.92. 317,894 shares of the company traded hands, compared to its average volume of 589,303. The firm's 50 day simple moving average is C$14.24 and its two-hundred day simple moving average is C$13.60. Dream Industrial Real Estate Invest Trst has a 1-year low of C$11.78 and a 1-year high of C$14.85. The company has a debt-to-equity ratio of 63.72, a current ratio of 0.40 and a quick ratio of 0.24. The firm has a market cap of C$4.00 billion, a PE ratio of 22.10 and a beta of 1.15.

Dream Industrial Real Estate Invest Trst (TSE:DIR.UN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported C$0.11 earnings per share for the quarter. Dream Industrial Real Estate Invest Trst had a return on equity of 3.88% and a net margin of 37.00%.The business had revenue of C$131.42 million for the quarter. On average, equities research analysts expect that Dream Industrial Real Estate Invest Trst will post 0.892928 EPS for the current fiscal year.

About Dream Industrial Real Estate Invest Trst

Dream Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust. Its portfolio comprises industrial properties located in key markets across Canada and the U.S. Its objective is to build upon and grow its portfolio and to provide stable and sustainable cash distributions to its unitholders. Geographically the business is organized into Ontario, Quebec, Western Canada, Europe and the USA. Substantial revenue is derived from the Canadian portfolio.

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