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 established on February 24, 2022 pursuant to the REIT’s Declaration of Trust under the laws of the Province of Ontario.
Market Cap
CAD 107.1M
Pitch Price
CAD 6.87
Price Target
N/A
Dividend
4.56%
EV/EBITDA
N/A
P/E
-29.37
EV/Sales
9.64
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.
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