DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) Stock Fundamental Analysis
TSX:DIR-UN - Toronto Stock Exchange - CA26153W1095 - REIT - Currency: CAD
Taking everything into account, DIR-UN scores 6 out of 10 in our fundamental rating. DIR-UN was compared to 37 industry peers in the Diversified REITs industry. While DIR-UN belongs to the best of the industry regarding profitability, there are concerns on its financial health. DIR-UN has a decent growth rate and is not valued too expensively. Finally DIR-UN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
DIR-UN had positive earnings in the past year.
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
With an excellent Return On Assets value of 2.86%, DIR-UN belongs to the best of the industry, outperforming 83.78% of the companies in the same industry.
DIR-UN's Return On Equity of 4.83% is fine compared to the rest of the industry. DIR-UN outperforms 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.
DIR-UN had an Average Return On Invested Capital over the past 3 years of 2.81%. This 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
Looking at the Profit Margin, with a value of 49.16%, DIR-UN belongs to the top of the industry, outperforming 94.59% of the companies in the same industry.
DIR-UN's Profit Margin has declined in the last couple of years.
DIR-UN has a Operating Margin of 67.18%. This is amongst the best in the industry. DIR-UN outperforms 91.89% of its industry peers.
DIR-UN's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 76.38%, DIR-UN belongs to the top of the industry, outperforming 89.19% of the companies in the same industry.
In the last couple of years the Gross Margin of DIR-UN has remained more or less at the same level.
| 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
The number of shares outstanding for DIR-UN has been increased compared to 1 year ago.
The number of shares outstanding for DIR-UN has been increased compared to 5 years ago.
The debt/assets ratio for DIR-UN is higher compared to a year ago.
2.2 Solvency
DIR-UN has an Altman-Z score of 0.92. This is a bad value and indicates that DIR-UN is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of DIR-UN (0.92) is better than 86.49% of its industry peers.
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.
With an excellent Debt to FCF ratio value of 9.70, DIR-UN belongs to the best 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.
DIR-UN's Debt to Equity ratio of 0.52 is amongst the best of the industry. DIR-UN outperforms 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.
DIR-UN has a Current ratio of 0.12. This is in the lower half of the industry: DIR-UN underperforms 72.97% of its industry peers.
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.
Looking at the Quick ratio, with a value of 0.12, DIR-UN is doing worse than 72.97% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 |
3. Growth
3.1 Past
DIR-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.68%, which is quite good.
DIR-UN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -7.45% yearly.
Looking at the last year, DIR-UN shows a small growth in Revenue. The Revenue has grown by 6.21% in the last year.
Measured over the past years, DIR-UN shows a quite strong growth in Revenue. The Revenue has been growing by 19.01% on average per year.
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
DIR-UN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.60% yearly.
DIR-UN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.15% yearly.
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
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
DIR-UN is valuated correctly with a Price/Earnings ratio of 14.56.
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.
DIR-UN is valuated reasonably with a Price/Forward Earnings ratio of 10.30.
Based on the Price/Forward Earnings ratio, DIR-UN is valued a bit cheaper than 78.38% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.30, DIR-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.56 | ||
| Fwd PE | 10.3 |
4.2 Price Multiples
Compared to the rest of the industry, the Price/Free Cash Flow ratio of DIR-UN is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.88 | ||
| 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
With a Yearly Dividend Yield of 5.00%, DIR-UN is a good candidate for dividend investing.
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 paid a dividend for at least 10 years, which is 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
DIR-UN pays out 61.08% of its income as dividend. This is not a sustainable payout ratio.
The dividend of DIR-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP61.08%
EPS Next 2Y20.6%
EPS Next 3YN/A
TSX:DIR-UN (6/6/2025, 7:00:00 PM)
11.65
+0.26 (+2.28%)
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 Cap3.32B
Analysts82.67
Price Target13.86 (18.97%)
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 | 14.56 | ||
| Fwd PE | 10.3 | ||
| P/S | 7.02 | ||
| P/FCF | 10.88 | ||
| P/OCF | 10.88 | ||
| P/B | 0.69 | ||
| P/tB | 0.69 | ||
| EV/EBITDA | N/A |
EPS(TTM)0.8
EY6.87%
EPS(NY)1.13
Fwd EY9.71%
FCF(TTM)1.07
FCFY9.19%
OCF(TTM)1.07
OCFY9.19%
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%