CA - Dream Industrial REIT nabs top bull rating at BMO calling it 'dominant Canadian platform'

• BMO Capital Markets started coverage of Dream Industrial REIT ( OTC:DREUF ) (DIR.UN:CA) with an Outperform rating Wednesday as its portfolio of strong industrial markets in Canada enables "significant runway for above-average organic growth."
• That growth could extend beyond 2023 due to "the wide spread between in-place and estimated market rents, and the supply/demand balance in DIR's target markets," analyst Michael Markidis wrote in a note.
• At the same time, however, Markidis has some concerns, including elevated debt repricing over the medium term as well as a potential off-balance sheet liability in connection with the external asset management structure.
• With DREUF down 17% over the last year, those risks "are more than adequately priced into the stock," the note said.
• In mid-February, Dream Industrial REIT published its Q4 results.

For further details see: