Royal Bank of Canada Boosts Dream Global REIT (TSE:DRG.UN) Price Target to C$16.00
Dream Global REIT (TSE:DRG.UN) had its price target hoisted by stock analysts at Royal Bank of Canada from C$15.00 to C$16.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 12.28% from the stock’s current price.
A number of other research analysts also recently weighed in on the company. CIBC raised their price target on Dream Global REIT from C$26.00 to C$27.00 in a research note on Monday. National Bank Financial raised their price target on Dream Global REIT from C$17.00 to C$18.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Canaccord Genuity raised their price target on Dream Global REIT from C$15.50 to C$16.50 in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of C$18.00.
DRG.UN stock traded down C$0.03 during mid-day trading on Wednesday, reaching C$14.25. The company had a trading volume of 285,655 shares, compared to its average volume of 709,609. The company has a debt-to-equity ratio of 74.83, a current ratio of 0.70 and a quick ratio of 0.24. The stock’s 50 day moving average is C$14.07. The company has a market capitalization of $2.75 billion and a P/E ratio of 4.76. Dream Global REIT has a 52 week low of C$11.58 and a 52 week high of C$15.44.
Dream Global REIT is a real estate investment trust that provides investors with the opportunity to invest in commercial real estate exclusively outside of Canada. Dream Global REIT's portfolio currently consists of approximately 19.9 million square feet of gross leasable area of office, industrial and mixed-use properties across Germany, the Netherlands, Austria and Belgium.
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