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Home CompaniesDream Industrial Real Estate Investment Trust

Dream Industrial Real Estate Investment Trust

Real Estate REIT - Industrial
PortfolioPortfolio WatchlistWatchlist
Company price
12.85 CAD 0.17 ( 1.34%)
Last update at 2026-11-04T18:40:00Z
VOLUME
477261
Market Cap
3847.27M
P/E
51.77

Momentum Score

…

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 322 industrial assets totaling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT's goal is to deliver strong total returns to its unitholders through secure cash flows underpinned by its high-quality portfolio and an investment grade balance sheet as well as driving growth in its net asset value and cash flow per unit.

Source: TradingView
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Day Price Range
12.76
Low
13.08
High
52 Week Price Range
11.43
Low
14.55
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) owns and operates industrial logistics properties in North America and Europe, focused on warehouses, distribution centres and light-industrial assets under multi- and single-tenant leases. Growth drivers include e-commerce and supply-chain demand, rental inflation via lease escalators, and an acquisition/development pipeline, which may support predictable cash flow and geographic diversification.

Major risks include sensitivity to higher interest rates and property valuations, execution and leasing risk on developments, tenant concentration and vacancy, and regional economic cyclicality.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
12.68
Dividend Yield
5.25%
Revenue TTM
420.25M
Revenue Per Share
1.54
Gross Profit TTM
320.74M
Debt / Equity
0.54
ROE
1.74%
Net Debt
2340.99M
ROCE
4.17%
Diluted EPS TTM
0.26

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Income before tax 70.27M 725.37M 638.60M 208.83M 185.23M
Net income 78.97M 705.88M 608.35M 200.14M 179.43M
Selling general administrative 36.41M 34.39M 26.49M 19.95M 14.38M
Gross profit 324.55M 281.59M 217.90M 168.88M 139.03M
Reconciled depreciation - 3.07M 1.78M 0.02M 0.06M
Ebit - 287.18M 232.24M 148.46M 125.69M
Ebitda - 290.26M 234.02M 148.48M 125.75M
Depreciation and amortization - 3.07M 1.78M 0.02M 0.06M
Operating income 288.13M 287.18M 232.24M 148.46M 125.69M
Other operating expenses - 122.37M 98.42M 87.04M 70.74M
Interest expense 57.51M 34.44M 36.99M 46.05M 47.53M
Tax provision -8.70M 19.48M 30.26M 8.68M 8.46M
Interest income 3.50M 3.75M 2.69M 0.89M 1.91M
Net interest income -56.25M -32.93M -35.41M -46.50M -46.42M
Income tax expense - 19.48M 30.26M 8.68M 8.46M
Total revenue 425.55M 369.57M 289.81M 235.95M 195.33M
Total operating expenses 137.42M 34.39M 26.51M 19.97M 14.44M
Cost of revenue 101.00M 87.98M 71.92M 67.06M 56.30M
Total other income expense net -161.62M 438.18M 406.36M 60.37M 59.54M
Discontinued operations - - - -0.02M 2.66M
Net income from continuing ops 78.97M 705.88M 608.35M 200.16M 176.77M
Net income applicable to common shares - 705.88M 608.35M 200.14M 179.43M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 7280.49M 6053.57M 3521.33M 2892.89M 2160.57M
Other current assets 4.05M 4.87M 5.04M 2.50M 9.39M
Total liab 2827.75M 2554.14M 1616.45M 1333.32M 1171.25M
Total stockholder equity 4452.74M 3499.42M 1904.88M 1559.57M 989.33M
Other current liab 24.12M 15.96M 12.64M 11.49M 9.12M
Common stock 3106.90M 2756.16M 1605.72M 1372.56M 887.76M
Capital stock 3106.90M 2756.16M 1605.72M 1372.56M 887.76M
Retained earnings 1274.97M 746.85M 281.53M 187.44M 90.62M
Other liab 308.66M 391.45M 289.11M 277.10M 198.04M
Other assets 2.94M 40.87M 2.10M 2.70M 1.36M
Cash 83.80M 164.01M 254.94M 441.54M 4.97M
Total current liabilities 368.82M 134.84M 181.43M 102.40M 111.96M
Current deferred revenue 10.80M 7.63M 5.08M 3.08M 4.73M
Net debt 2340.99M 1893.01M 1006.47M 573.03M 932.76M
Short term debt 275.54M 38.35M 130.16M 61.65M 76.94M
Short long term debt 275.54M 38.35M 130.16M 61.65M 76.94M
Short long term debt total 2424.79M 2057.03M 1261.40M 1014.57M 937.73M
Other stockholder equity 70.86M -3.58M 17.62M -0.43M 10.95M
Property plant equipment 6759.43M 5698.02M 3242.27M 2429.32M 2139.04M
Total current assets 115.53M 176.74M 267.92M 451.45M 18.67M
Long term investments 313.53M 139.35M 9.03M 8.01M 1.51M
Net tangible assets 4452.74M 3499.42M 1904.88M 1559.57M 989.33M
Net receivables 27.67M 7.86M 10.04M 7.41M 4.31M
Long term debt 2137.41M 2006.65M 1128.77M 952.92M 860.79M
Accounts payable 58.37M 72.91M 33.56M 26.18M 21.17M
Accumulated other comprehensive income 70.86M -3.58M 17.62M -0.43M 10.95M
Non currrent assets other 6851.44M 5736.06M 3243.70M 2432.79M 2141.28M
Non current assets total 7164.97M 5876.83M 3253.41M 2441.45M 2141.91M
Capital lease obligations 11.84M 12.03M 2.47M 0.00M -
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Investments -733.18M -780.36M -14.31M -1.22M -8.12M
Change to liabilities - 0.00M 0.00M 0.00M 0.00M
Total cashflows from investing activities - -780.36M -1764.50M -644.31M -116.13M
Net borrowings - 350.72M 599.58M 243.92M 84.38M
Total cash from financing activities 455.95M 487.95M 1503.30M 317.16M 469.22M
Change to operating activities - 5.42M 9.81M 1.26M -2.91M
Net income 78.97M 705.88M 608.35M 200.14M 179.43M
Change in cash -3.19M -80.21M -90.92M -186.60M 436.57M
Begin period cash flow 60.09M 164.01M 254.94M 441.54M 4.97M
End period cash flow 56.90M 83.80M 164.01M 254.94M 441.54M
Total cash from operating activities 274.05M 218.39M 174.10M 135.08M 84.59M
Issuance of capital stock 107.18M 320.17M 1116.79M 230.13M 465.32M
Depreciation - 3.07M 1.78M 0.02M 0.06M
Dividends paid 136.25M 136.06M 104.84M 96.48M 55.17M
Change to account receivables - -19.07M 2.19M -2.60M -3.21M
Sale purchase of stock - - 1010.06M 494.92M -0.09M
Other cashflows from financing activities - 582.13M -68.49M -17.79M 378.22M
Change to netincome - -482.90M -451.10M -67.06M -56.67M
Capital expenditures 168.22M 147.62M 45.96M 7.13M 11.41M
Change in working capital -1.15M -9.91M 12.75M -1.34M -5.99M
Stock based compensation 3.76M 3.36M 3.36M 2.20M 2.16M
Other non cash items 22.05M -500.06M -464.27M -74.60M -99.53M
Free cash flow 105.83M 70.78M 128.14M 127.95M 73.18M

Peer Comparison*

Sector: Real Estate Industry: REIT - Industrial

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
DIR-UN
Dream Industrial Real Estate Investment Trust		 0.17
1.34%		 12.85 51.77 14.81 9.15 0.82 15.47 51.53
GRT-UN
Granite Real Estate Investment Trust		 1.35
1.59%		 86.23 - 14.49 9.38 0.90 15.11 524.00
NXR-UN
Nexus Real Estate Investment Trust		 0.18
2.45%		 7.53 4.79 10.06 5.03 0.55 11.04 9.43
PRV-UN
Pro Real Estate Investment Trust		 0.12
1.77%		 6.90 9.93 11.56 3.33 0.65 8.36 15.36

Profile*

Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 322 industrial assets totaling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT's goal is to deliver strong total returns to its unitholders through secure cash flows underpinned by its high-quality portfolio and an investment grade balance sheet as well as driving growth in its net asset value and cash flow per unit.

State Street Financial Centre, Toronto, ON, Canada, M5C 3H1

416-365-3535

https://www.dream.ca/industrial

Name Title Year Born
Mr. Brian D. Pauls CEO & Trustee NA
Ms. Lenis W. Quan Chief Financial Officer 1973
Mr. Alexander Sannikov Chief Operating Officer 1986
Mr. Bruce Traversy Sr. VP & Head of Investments 1966
Mr. Joe Iadeluca Sr. VP of Portfolio Management - Quebec & Eastern Canada 1958
Ms. P. Jane Gavan Pres of Asset Management 1960

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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