DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) Stock Fundamental Analysis
TSX:DIR-UN - Toronto Stock Exchange - CA26153W1095 - REIT - Currency: CAD
Overall DIR-UN gets a fundamental rating of 6 out of 10. We evaluated DIR-UN against 37 industry peers in the Diversified REITs industry. DIR-UN scores excellent on profitability, but there are concerns on its financial health. DIR-UN is not valued too expensively and it also shows a decent growth rate. Finally DIR-UN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year DIR-UN was profitable.
DIR-UN had a positive operating cash flow in the past year.
DIR-UN had positive earnings in each of the past 5 years.
In the past 5 years DIR-UN always reported a positive cash flow from operatings.
1.2 Ratios
DIR-UN's Return On Assets of 2.86% is amongst the best of the industry. DIR-UN outperforms 83.78% of its industry peers.
The Return On Equity of DIR-UN (4.83%) is better than 70.27% of its industry peers.
DIR-UN has a Return On Invested Capital of 3.05%. This is in the lower half of the industry: DIR-UN underperforms 78.38% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for DIR-UN is below the industry average of 5.69%.
The last Return On Invested Capital (3.05%) for DIR-UN is above the 3 year average (2.81%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.86% | ||
| ROE | 4.83% | ||
| ROIC | 3.05% |
ROA(3y)4.74%
ROA(5y)5.99%
ROE(3y)7.87%
ROE(5y)10.3%
ROIC(3y)2.81%
ROIC(5y)2.7%
1.3 Margins
With an excellent Profit Margin value of 49.16%, DIR-UN belongs to the best of the industry, outperforming 94.59% of the companies in the same industry.
In the last couple of years the Profit Margin of DIR-UN has declined.
With an excellent Operating Margin value of 67.18%, DIR-UN belongs to the best of the industry, outperforming 91.89% of the companies in the same industry.
DIR-UN's Operating Margin has improved in the last couple of years.
DIR-UN has a Gross Margin of 76.38%. This is amongst the best in the industry. DIR-UN outperforms 89.19% of its industry peers.
DIR-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 67.18% | ||
| PM (TTM) | 49.16% | ||
| GM | 76.38% |
OM growth 3Y2.22%
OM growth 5Y2.97%
PM growth 3Y-35.75%
PM growth 5Y-9.53%
GM growth 3Y0.46%
GM growth 5Y1.38%
2. Health
2.1 Basic Checks
DIR-UN has more shares outstanding than it did 1 year ago.
DIR-UN has more shares outstanding than it did 5 years ago.
The debt/assets ratio for DIR-UN is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.92, we must say that DIR-UN is in the distress zone and has some risk of bankruptcy.
With an excellent Altman-Z score value of 0.92, DIR-UN belongs to the best of the industry, outperforming 86.49% of the companies in the same industry.
The Debt to FCF ratio of DIR-UN is 9.70, which is on the high side as it means it would take DIR-UN, 9.70 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 9.70, DIR-UN belongs to the top of the industry, outperforming 89.19% of the companies in the same industry.
A Debt/Equity ratio of 0.52 indicates that DIR-UN is somewhat dependend on debt financing.
The Debt to Equity ratio of DIR-UN (0.52) is better than 91.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 9.7 | ||
| Altman-Z | 0.92 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 0.12 indicates that DIR-UN may have some problems paying its short term obligations.
With a Current ratio value of 0.12, DIR-UN is not doing good in the industry: 72.97% of the companies in the same industry are doing better.
DIR-UN has a Quick Ratio of 0.12. This is a bad value and indicates that DIR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of DIR-UN (0.12) is worse than 72.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 14.68% over the past year.
Measured over the past years, DIR-UN shows a decrease in Earnings Per Share. The EPS has been decreasing by -7.45% on average per year.
Looking at the last year, DIR-UN shows a small growth in Revenue. The Revenue has grown by 6.21% in the last year.
The Revenue has been growing by 19.01% on average over the past years. This is quite good.
EPS 1Y (TTM)14.68%
EPS 3Y-31.68%
EPS 5Y-7.45%
EPS Q2Q%-37.36%
Revenue 1Y (TTM)6.21%
Revenue growth 3Y17.17%
Revenue growth 5Y19.01%
Sales Q2Q%5.94%
3.2 Future
The Earnings Per Share is expected to grow by 20.60% on average over the next years. This is a very strong growth
Based on estimates for the next years, DIR-UN will show a quite strong growth in Revenue. The Revenue will grow by 9.15% on average per year.
EPS Next Y37.66%
EPS Next 2Y20.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.71%
Revenue Next 2Y9.15%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
DIR-UN is valuated correctly with a Price/Earnings ratio of 14.76.
Based on the Price/Earnings ratio, DIR-UN is valued a bit cheaper than the industry average as 78.38% of the companies are valued more expensively.
DIR-UN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.55.
Based on the Price/Forward Earnings ratio of 10.44, the valuation of DIR-UN can be described as reasonable.
DIR-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. DIR-UN is cheaper than 78.38% of the companies in the same industry.
DIR-UN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.76 | ||
| Fwd PE | 10.44 |
4.2 Price Multiples
DIR-UN's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.03 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of DIR-UN may justify a higher PE ratio.
DIR-UN's earnings are expected to grow with 20.60% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.39
PEG (5Y)N/A
EPS Next 2Y20.6%
EPS Next 3YN/A
5. Dividend
5.1 Amount
DIR-UN has a Yearly Dividend Yield of 5.00%, which is a nice return.
DIR-UN's Dividend Yield is slightly below the industry average, which is at 7.94.
DIR-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5% |
5.2 History
The dividend of DIR-UN has a limited annual growth rate of 3.03%.
DIR-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
DIR-UN has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.03%
Div Incr Years1
Div Non Decr Years12
5.3 Sustainability
61.08% of the earnings are spent on dividend by DIR-UN. This is not a sustainable payout ratio.
DIR-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP61.08%
EPS Next 2Y20.6%
EPS Next 3YN/A
TSX:DIR-UN (6/11/2025, 7:00:00 PM)
11.81
-0.12 (-1.01%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners31.14%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.37B
Analysts82.67
Price Target13.86 (17.36%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5% |
Yearly Dividend0.49
Dividend Growth(5Y)3.03%
DP61.08%
Div Incr Years1
Div Non Decr Years12
Ex-Date
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-5.83%
PT rev (3m)-13.71%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.85%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.76 | ||
| Fwd PE | 10.44 | ||
| P/S | 7.12 | ||
| P/FCF | 11.03 | ||
| P/OCF | 11.03 | ||
| P/B | 0.7 | ||
| P/tB | 0.7 | ||
| EV/EBITDA | N/A |
EPS(TTM)0.8
EY6.77%
EPS(NY)1.13
Fwd EY9.58%
FCF(TTM)1.07
FCFY9.07%
OCF(TTM)1.07
OCFY9.07%
SpS1.66
BVpS16.9
TBVpS16.9
PEG (NY)0.39
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.86% | ||
| ROE | 4.83% | ||
| ROCE | 4.24% | ||
| ROIC | 3.05% | ||
| ROICexc | 3.07% | ||
| ROICexgc | 3.07% | ||
| OM | 67.18% | ||
| PM (TTM) | 49.16% | ||
| GM | 76.38% | ||
| FCFM | 64.55% |
ROA(3y)4.74%
ROA(5y)5.99%
ROE(3y)7.87%
ROE(5y)10.3%
ROIC(3y)2.81%
ROIC(5y)2.7%
ROICexc(3y)2.84%
ROICexc(5y)2.78%
ROICexgc(3y)2.84%
ROICexgc(5y)2.78%
ROCE(3y)3.91%
ROCE(5y)3.75%
ROICexcg growth 3Y12.88%
ROICexcg growth 5Y-1.14%
ROICexc growth 3Y12.88%
ROICexc growth 5Y-1.14%
OM growth 3Y2.22%
OM growth 5Y2.97%
PM growth 3Y-35.75%
PM growth 5Y-9.53%
GM growth 3Y0.46%
GM growth 5Y1.38%
F-Score7
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 9.7 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 4.83 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 131.32% | ||
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 | ||
| Altman-Z | 0.92 |
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)144.93%
Profit Quality(5y)106.14%
High Growth Momentum
Growth
EPS 1Y (TTM)14.68%
EPS 3Y-31.68%
EPS 5Y-7.45%
EPS Q2Q%-37.36%
EPS Next Y37.66%
EPS Next 2Y20.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.21%
Revenue growth 3Y17.17%
Revenue growth 5Y19.01%
Sales Q2Q%5.94%
Revenue Next Year8.71%
Revenue Next 2Y9.15%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y9.18%
EBIT growth 3Y19.77%
EBIT growth 5Y22.54%
EBIT Next Year18.41%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y23.11%
FCF growth 3Y19.32%
FCF growth 5Y19.83%
OCF growth 1Y23.12%
OCF growth 3Y19.32%
OCF growth 5Y19.81%