Professional
Added to YB: 2025-02-26
Pitch date: 2025-02-24
DRR-U.TO [bullish]
Dream Residential Real Estate Investment Trust
+38.64%
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 7.73
Price Target
N/A
Dividend
4.56%
EV/EBITDA
N/A
P/E
-29.37
EV/Sales
9.64
Sector
Residential REITs
Category
special_situation
NCP pick: Dream Residential (TSX: DRR.U/DRR.UN)
DRR-U.TO: Strategic review announced. Trading at 9.7% cap rate vs 5-6% market rate for US multifamily. 46% discount to IFRS NAV ($13.39). CEO confident in NAV, exploring asset sales. Reminiscent of ERE.UN's successful liquidation. Potential for significant upside through private market sales. 6% yield while waiting. Strong buy into low $8s.
Read full article (5 min)