Professional
Added to YB: 2024-09-17
Pitch date: 2024-09-15
DRR-U.TO [bullish]
Dream Residential Real Estate Investment Trust
+56.04%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
Company Info
Dream Residential Real Estate Investment Trust (Dream Residential REIT or the REIT) is an unincorporated, open-ended real estate investment trust pursuant to the REIT’s Declaration of Trust under the laws of the Province of Ontario.
Market Cap
CAD 171.1M
Pitch Price
CAD 6.87
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-2.92
EV/Sales
12.43
Sector
Residential REITs
Category
value
Laggard REITs that offer opportunity - Dream Residential Real Estate Investment Trust
DRR-U.TO: US-focused REIT trading at 50% NAV discount, 10% cap rate. 3 markets: OKC, DFW, Cincinnati. 6% yield, low payout. High occupancy, steady rent growth. Poor IPO timing, but no major risks. Mgmt exploring acquisitions. Tight ownership, low liquidity. Edgepoint & Middlefield large holders. $78k/door avg, in line w/ market. Supply tightening expected.
Read full article (2 min)