Dream Office REIT reports after the market closes on November 5. The consensus forecast is C$1.32 per unit, but it comes from just one analyst.
Dream Office Real Estate Investment Trust (TSX: D-UN; D-UN.TO) is set to report results for the quarter ended September 30, 2026. Four analysts contribute to the C$182.94 million revenue estimate. The EPS estimate is based on one analyst, so it offers a limited view of market expectations. Follow the D-UN stock page for company and market updates.
Recent earnings trend
Dream Office Real Estate Investment Trust
D-UN.TO
D-UN.TO
Dream Office Real Estate Investment Trust
WealthAwesomeMarket cap
$301.84M
Div. yield
6.31%
Div. / share
$1.00
52W high
$19.23
52W low
$14.77
1W change
-1.75%
Beta
1.15
Analyst Price Targets
Based on analyst covering D-UN · as of Oct 28, 2026
Wall Street analysts forecast D-UN stock price to rise 21.5% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$19.08
+21.5% Upside
Previously C$19.75 on Oct 26, 2026
Current Price
C$15.70
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on D-UN's historical volatility
30-Day Vol
22.8%
Annualized
90-Day Vol
25.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$13.13
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$14.79 | C$13.67 – C$16.00 |
| 60 trading days | C$13.94 | C$12.47 – C$15.58 |
| 90 trading days | C$13.13 | C$11.46 – C$15.05 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2023-06-30 | 2023-08-02 | -2.0000 | 0.6800 | -394.1% |
| 2016-09-30 | 2016-11-10 | 0.6200 | 0.6400 | -3.1% |
| 2016-06-30 | 2016-08-10 | 0.6500 | 0.6800 | -4.4% |
| 2015-12-31 | 2016-02-18 | -0.9500 | 1.3200 | -172.0% |
| 2015-09-30 | 2015-11-12 | 0.4600 | 1.3600 | -66.2% |
| 2015-06-30 | 2015-08-06 | -1.5400 | 1.3600 | -213.2% |
Investor takeaway: The EPS estimate suggests a sharp improvement from a year-ago loss of C$3.21. But with only one analyst behind it, the figure is a narrow benchmark. Investors may get a clearer picture from Toronto office occupancy, funds from operations, and the REIT’s update on its net loss and property portfolio. Dream Office has missed estimates in each of its last four reported quarters. That history covers 41 comparable quarters and includes unusually large swings, so it provides context rather than a reliable forecast.
C$1.32 EPS consensus, from one analyst
The EPS estimate is unchanged from 30 days ago, but the small analyst sample limits its usefulness. Four analysts expect revenue of C$182.94 million, up 1.7% year over year.
Bull case
Dream Office’s latest operating update showed some progress. In Q2 2026, in-place occupancy in downtown Toronto rose to 83.2%, and committed occupancy reached 90.0%. Diluted FFO was C$0.65 per unit. If leasing progress continues and operations remain steady, the underlying business may look stronger than headline net income suggests. Analysts expect revenue to grow 1.7% year over year.
Bear case
The EPS estimate rests on one analyst, and its 141.1% growth rate reflects a comparison with a large loss a year earlier. It doesn’t necessarily signal stronger operations. Dream Office reported a C$7.6 million net loss in Q2. Its trailing 12-month EPS is -C$4.25, and its profit margin is -45.69%. The REIT has also missed estimates in each of its last four reported quarters. Office occupancy remains worth watching, especially the gap between committed and in-place occupancy as leases take effect.
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