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 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 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
DIR-UN had positive earnings in the past year.
In the past year DIR-UN had a positive cash flow from operations.
In the past 5 years DIR-UN has always been profitable.
Each year in the past 5 years DIR-UN had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.86%, DIR-UN belongs to the top of the industry, outperforming 84.21% of the companies in the same industry.
DIR-UN has a better Return On Equity (4.83%) than 68.42% of its industry peers.
The Return On Invested Capital of DIR-UN (3.05%) is worse than 78.95% of its industry peers.
The Average Return On Invested Capital over the past 3 years for DIR-UN is below the industry average of 5.66%.
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
DIR-UN has a Profit Margin of 49.16%. This is amongst the best in the industry. DIR-UN outperforms 94.74% of its industry peers.
In the last couple of years the Profit Margin of DIR-UN has declined.
DIR-UN's Operating Margin of 67.18% is amongst the best of the industry. DIR-UN outperforms 92.11% of its industry peers.
DIR-UN's Operating Margin has improved in the last couple of years.
DIR-UN's Gross Margin of 76.38% is amongst the best of the industry. DIR-UN outperforms 89.47% 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.
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.
DIR-UN's Altman-Z score of 0.92 is amongst the best of the industry. DIR-UN outperforms 84.21% 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.
The Debt to FCF ratio of DIR-UN (9.70) is better than 89.47% of its industry peers.
DIR-UN has a Debt/Equity ratio of 0.52. This is a neutral value indicating DIR-UN is somewhat dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.52, 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 | 0.52 | ||
| Debt/FCF | 9.7 | ||
| Altman-Z | 0.92 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
DIR-UN has a Current 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.
DIR-UN has a worse Current ratio (0.12) than 73.68% of its industry peers.
A Quick Ratio of 0.12 indicates that DIR-UN may have some problems paying its short term obligations.
DIR-UN has a worse Quick ratio (0.12) than 73.68% of its industry peers.
| 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.
The Revenue is expected to grow by 9.04% on average over the next years. This is quite good.
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 3Y9.04%
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
Based on the Price/Earnings ratio of 14.74, the valuation of DIR-UN can be described as correct.
Based on the Price/Earnings ratio, DIR-UN is valued a bit cheaper than the industry average as 78.95% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of DIR-UN to the average of the S&P500 Index (27.21), we can say DIR-UN is valued slightly cheaper.
The Price/Forward Earnings ratio is 10.42, which indicates a very decent valuation of DIR-UN.
78.95% of the companies in the same industry are more expensive than DIR-UN, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of DIR-UN to the average of the S&P500 Index (21.70), we can say DIR-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.74 | ||
| Fwd PE | 10.42 |
4.2 Price Multiples
DIR-UN's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.01 | ||
| 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.
DIR-UN has a very decent profitability rating, which 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.
Compared to an average industry Dividend Yield of 7.95, DIR-UN is paying slightly less dividend.
DIR-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
| 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
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 (6/30/2025, 7:00:00 PM)
11.79
+0.13 (+1.11%)
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 Cap3.36B
Analysts82.67
Price Target13.79 (16.96%)
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)-5.25%
PT rev (3m)-11.33%
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)-0.32%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.74 | ||
| Fwd PE | 10.42 | ||
| P/S | 7.11 | ||
| P/FCF | 11.01 | ||
| P/OCF | 11.01 | ||
| P/B | 0.7 | ||
| P/tB | 0.7 | ||
| EV/EBITDA | N/A |
EPS(TTM)0.8
EY6.79%
EPS(NY)1.13
Fwd EY9.59%
FCF(TTM)1.07
FCFY9.09%
OCF(TTM)1.07
OCFY9.09%
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 3Y9.04%
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%