DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) Stock Fundamental Analysis
Canada - TSX:DIR-UN - CA26153W1095 - REIT
12.59 CAD
+0.12 (+0.96%)
We assign a fundamental rating of 5 out of 10 to DIR-UN. DIR-UN was compared to 38 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.
Each year in the past 5 years DIR-UN has been profitable.
DIR-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
DIR-UN's Return On Assets of 2.63% is fine compared to the rest of the industry. DIR-UN outperforms 78.95% of its industry peers.
The Return On Equity of DIR-UN (4.55%) is better than 68.42% of its industry peers.
With a Return On Invested Capital value of 3.14%, DIR-UN is not doing good in the industry: 71.05% of the companies in the same industry are doing better.
The Average Return On Invested Capital over the past 3 years for DIR-UN is below the industry average of 5.49%.
The last Return On Invested Capital (3.14%) for DIR-UN is above the 3 year average (2.81%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.63% | ||
| ROE | 4.55% | ||
| ROIC | 3.14% |
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
DIR-UN's Profit Margin of 45.11% is amongst the best of the industry. DIR-UN outperforms 92.11% of its industry peers.
In the last couple of years the Profit Margin of DIR-UN has declined.
With an excellent Operating Margin value of 66.37%, DIR-UN belongs to the best of the industry, outperforming 92.11% of the companies in the same industry.
In the last couple of years the Operating Margin of DIR-UN has grown nicely.
DIR-UN's Gross Margin of 76.37% is amongst the best of the industry. DIR-UN outperforms 89.47% of its industry peers.
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 | 66.37% | ||
| PM (TTM) | 45.11% | ||
| GM | 76.37% |
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.
Compared to 1 year ago, DIR-UN has a worse debt to assets ratio.
2.2 Solvency
DIR-UN has an Altman-Z score of 0.89. This is a bad value and indicates that DIR-UN is not financially healthy and even has some risk of bankruptcy.
DIR-UN has a Altman-Z score of 0.89. This is amongst the best in the industry. DIR-UN outperforms 84.21% of its industry peers.
The Debt to FCF ratio of DIR-UN is 9.34, which is on the high side as it means it would take DIR-UN, 9.34 years of fcf income to pay off all of its debts.
DIR-UN's Debt to FCF ratio of 9.34 is amongst the best of the industry. DIR-UN outperforms 89.47% of its industry peers.
A Debt/Equity ratio of 0.49 indicates that DIR-UN is not too dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.49, DIR-UN belongs to the best of the industry, outperforming 92.11% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.49 | ||
| Debt/FCF | 9.34 | ||
| Altman-Z | 0.89 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 0.09 indicates that DIR-UN may have some problems paying its short term obligations.
DIR-UN's Current ratio of 0.09 is on the low side compared to the rest of the industry. DIR-UN is outperformed by 76.32% of its industry peers.
DIR-UN has a Quick Ratio of 0.09. 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.
DIR-UN has a worse Quick ratio (0.09) than 76.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.09 | ||
| Quick Ratio | 0.09 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 20.32% over the past year.
The Earnings Per Share has been decreasing by -7.45% on average over the past years.
The Revenue has been growing slightly by 7.13% in the past year.
The Revenue has been growing by 19.01% on average over the past years. This is quite good.
EPS 1Y (TTM)20.32%
EPS 3Y-31.68%
EPS 5Y-7.45%
EPS Q2Q%-25.26%
Revenue 1Y (TTM)7.13%
Revenue growth 3Y17.17%
Revenue growth 5Y19.01%
Sales Q2Q%8.05%
3.2 Future
Based on estimates for the next years, DIR-UN will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.64% on average per year.
Based on estimates for the next years, DIR-UN will show a quite strong growth in Revenue. The Revenue will grow by 8.96% on average per year.
EPS Next Y10.39%
EPS Next 2Y18.43%
EPS Next 3Y13.64%
EPS Next 5YN/A
Revenue Next Year8.59%
Revenue Next 2Y8.83%
Revenue Next 3Y8.96%
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 16.79.
71.05% of the companies in the same industry are more expensive than DIR-UN, based on the Price/Earnings ratio.
DIR-UN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.30.
A Price/Forward Earnings ratio of 11.54 indicates a reasonable valuation of DIR-UN.
Based on the Price/Forward Earnings ratio, DIR-UN is valued a bit cheaper than 78.95% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.73. DIR-UN is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.79 | ||
| Fwd PE | 11.54 |
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 | 11.18 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
DIR-UN's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
DIR-UN has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as DIR-UN's earnings are expected to grow with 13.64% in the coming years.
PEG (NY)1.62
PEG (5Y)N/A
EPS Next 2Y18.43%
EPS Next 3Y13.64%
5. Dividend
5.1 Amount
DIR-UN has a Yearly Dividend Yield of 5.00%, which is a nice return.
Compared to an average industry Dividend Yield of 7.95, DIR-UN is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.41, DIR-UN pays a better dividend.
| 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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.03%
Div Incr Years1
Div Non Decr Years12
5.3 Sustainability
DIR-UN pays out 65.95% of its income as dividend. This is not a sustainable payout ratio.
DIR-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP65.95%
EPS Next 2Y18.43%
EPS Next 3Y13.64%
TSX:DIR-UN (9/12/2025, 7:00:00 PM)
12.59
+0.12 (+0.96%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners28.78%
Inst Owner ChangeN/A
Ins Owners0.18%
Ins Owner ChangeN/A
Market Cap3.59B
Analysts81.43
Price Target14.05 (11.6%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5% |
Yearly Dividend0.49
Dividend Growth(5Y)3.03%
DP65.95%
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)-3.61%
PT rev (3m)1.35%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-19.81%
EPS NY rev (3m)-19.81%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.65%
Revenue NY rev (3m)-0.11%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.79 | ||
| Fwd PE | 11.54 | ||
| P/S | 7.44 | ||
| P/FCF | 11.18 | ||
| P/OCF | 11.18 | ||
| P/B | 0.75 | ||
| P/tB | 0.75 | ||
| EV/EBITDA | N/A |
EPS(TTM)0.75
EY5.96%
EPS(NY)1.09
Fwd EY8.66%
FCF(TTM)1.13
FCFY8.94%
OCF(TTM)1.13
OCFY8.94%
SpS1.69
BVpS16.79
TBVpS16.79
PEG (NY)1.62
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.63% | ||
| ROE | 4.55% | ||
| ROCE | 4.36% | ||
| ROIC | 3.14% | ||
| ROICexc | 3.16% | ||
| ROICexgc | 3.16% | ||
| OM | 66.37% | ||
| PM (TTM) | 45.11% | ||
| GM | 76.37% | ||
| FCFM | 66.53% |
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 | 0.49 | ||
| Debt/FCF | 9.34 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 4.56 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 147.49% | ||
| Current Ratio | 0.09 | ||
| Quick Ratio | 0.09 | ||
| Altman-Z | 0.89 |
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)20.32%
EPS 3Y-31.68%
EPS 5Y-7.45%
EPS Q2Q%-25.26%
EPS Next Y10.39%
EPS Next 2Y18.43%
EPS Next 3Y13.64%
EPS Next 5YN/A
Revenue 1Y (TTM)7.13%
Revenue growth 3Y17.17%
Revenue growth 5Y19.01%
Sales Q2Q%8.05%
Revenue Next Year8.59%
Revenue Next 2Y8.83%
Revenue Next 3Y8.96%
Revenue Next 5YN/A
EBIT growth 1Y8.44%
EBIT growth 3Y19.77%
EBIT growth 5Y22.54%
EBIT Next Year18.41%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y25.06%
FCF growth 3Y19.32%
FCF growth 5Y19.83%
OCF growth 1Y25.06%
OCF growth 3Y19.32%
OCF growth 5Y19.81%