TD Securities Believes Dream Global REIT (TSX: DRG.UN) Won’t Stop Here

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Dream Global REIT (TSX: DRG.UN). Analyst Sam Damiani from TD Securities remains bullish on the stock and has a C$12 price target.

Damiani has an average return of 14.9% when recommending Dream Global REIT.

According to TipRanks.com, Damiani is ranked #2275 out of 4600 analysts.

Currently, the analyst consensus on Dream Global REIT is Moderate Buy and the average price target is C$11.07, representing a 1.6% 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$52.01 million and had a net profit of C$76.29 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 Thursday at $10.90, close to its 52-week high of $11.12.