Dream Global REIT Gets a Buy Rating from Canaccord Genuity

By Jason Carr

Dream Global REIT (TSX: DRG.UN), the Financial sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. The company received a Buy rating from Canaccord Genuity’s analyst Mark Rothschild, with a C$11.75 price target.

According to TipRanks.com, Rothschild is a 5-star analyst with an average return of 10.3% and a 77.9% success rate. Rothschild covers the Financial sector, focusing on stocks such as Brookfield Property Partners, Glimcher Realty Trust, and Brookfield Asset Mng.

Currently, the analyst consensus on Dream Global REIT is Moderate Buy and the average price target is C$10.93, representing a 0.0% upside.

In a report issued on June 21, Desjardins also reiterated a Buy rating on the stock with a C$11 price target.

Based on Dream Global REIT’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$50.44 million and quarterly net profit of C$28.12 million. In comparison, last year the company earned revenue of C$51.73 million and had a net profit of C$31.98 million.

Dream Global Real Estate Investment Trust is a open-ended real estate investment trust with a portfolio of commercial properties in Germany and Austria. The company was founded on April 21, 2011 and is headquartered in Toronto, Canada.

The company’s shares closed on Monday at $10.93, close to its 52-week high of $10.99.