Dream Office Real Estate Investment Trust
Market Cap
CA$1.2b
Last Updated
2021/04/15 22:36 UTC
Data Sources
Company Financials +
Executive Summary
Dream Office REIT is an unincorporated, open-ended real estate investment trust. More Details
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with proven track record and pays a dividend.
Share Price & News
How has Dream Office Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: D.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: D.UN's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
-1.4%
D.UN
0.9%
CA REITs
0.2%
CA Market
1 Year Return
0.4%
D.UN
22.3%
CA REITs
41.7%
CA Market
Return vs Industry: D.UN underperformed the Canadian REITs industry which returned 22.3% over the past year.
Return vs Market: D.UN underperformed the Canadian Market which returned 41.7% over the past year.
Shareholder returns
| D.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.4% | 0.9% | 0.2% |
| 30 Day | -0.4% | 1.7% | 0.6% |
| 90 Day | 8.2% | 10.3% | 7.4% |
| 1 Year | 5.5%0.4% | 29.1%22.3% | 46.4%41.7% |
| 3 Year | 3.6%-8.9% | 25.4%6.6% | 30.9%18.4% |
| 5 Year | 35.0%3.7% | 41.6%7.1% | 56.5%32.9% |
Long-Term Price Volatility Vs. Market
How volatile is Dream Office Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
What Kind Of Shareholders Hold The Majority In Dream Office Real Estate Investment Trust's (TSE:D.UN) Shares?2 months ago | Simply Wall St
Dream Office Real Estate Investment Trust's (TSE:D.UN) Shareholders Are Down 41% On Their Shares3 months ago | Simply Wall St
Did Dream Office Real Estate Investment Trust (TSE:D.UN) Insiders Buy Up More Shares?Valuation
Is Dream Office Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
29.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: D.UN (CA$21.26) is trading below our estimate of fair value (CA$30.27)
Significantly Below Fair Value: D.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: D.UN is good value based on its PE Ratio (6.1x) compared to the CA REITs industry average (10.9x).
PE vs Market: D.UN is good value based on its PE Ratio (6.1x) compared to the Canadian market (17x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate D.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: D.UN is good value based on its PB Ratio (0.7x) compared to the CA REITs industry average (0.9x).
Future Growth
How is Dream Office Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-6.0%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if D.UN's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if D.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: D.UN's revenue is expected to decline over the next 3 years (-6% per year).
High Growth Revenue: D.UN's revenue is forecast to decline over the next 3 years (-6% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if D.UN's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Dream Office Real Estate Investment Trust performed over the past 5 years?
63.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: D.UN has high quality earnings.
Growing Profit Margin: D.UN's current net profit margins (72.1%) are higher than last year (44.2%).
Past Earnings Growth Analysis
Earnings Trend: D.UN has become profitable over the past 5 years, growing earnings by 63.2% per year.
Accelerating Growth: D.UN's earnings growth over the past year (40.1%) is below its 5-year average (63.2% per year).
Earnings vs Industry: D.UN earnings growth over the past year (40.1%) exceeded the REITs industry -17.1%.
Return on Equity
High ROE: D.UN's Return on Equity (11.8%) is considered low.
Financial Health
How is Dream Office Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: D.UN's short term assets (CA$25.7M) do not cover its short term liabilities (CA$181.4M).
Long Term Liabilities: D.UN's short term assets (CA$25.7M) do not cover its long term liabilities (CA$1.2B).
Debt to Equity History and Analysis
Debt Level: D.UN's debt to equity ratio (79.7%) is considered high.
Reducing Debt: D.UN's debt to equity ratio has reduced from 86.5% to 79.7% over the past 5 years.
Debt Coverage: D.UN's debt is not well covered by operating cash flow (7.9%).
Interest Coverage: D.UN's interest payments on its debt are not well covered by EBIT (2.9x coverage).
Balance Sheet
Dividend
What is Dream Office Real Estate Investment Trust current dividend yield, its reliability and sustainability?
4.66%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: D.UN's dividend (4.7%) is higher than the bottom 25% of dividend payers in the Canadian market (1.5%).
High Dividend: D.UN's dividend (4.7%) is low compared to the top 25% of dividend payers in the Canadian market (4.72%).
Stability and Growth of Payments
Stable Dividend: D.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: D.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (58.7%), D.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: D.UN's dividends in 3 years are forecast to be covered by earnings (57.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.9yrs
Average management tenure
CEO
Michael Cooper (59 yo)
3.25yrs
Tenure
CA$1,475,200
Compensation
Mr. Michael J. Cooper serves as Portfolio Manager of Dream Impact Trust (formerly known as Dream Hard Asset Alternatives Trust). Mr. Cooper has been Chief Executive Officer of Dream Office Real Estate Inve...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD1.18M) is about average for companies of similar size in the Canadian market ($USD1.17M).
Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: D.UN's management team is considered experienced (2.9 years average tenure).
Board Members
Experienced Board: D.UN's board of directors are considered experienced (5.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: D.UN insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Dream Office Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Dream Office Real Estate Investment Trust
- Ticker: D.UN
- Exchange: TSX
- Founded: NaN
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: CA$1.188b
- Market Cap: CA$1.076b
- Shares outstanding: 55.87m
- Website: https://www.dream.ca/office
Number of Employees
Location
- Dream Office Real Estate Investment Trust
- State Street Financial Center
- Suite 301
- Toronto
- Ontario
- M5C 3H1
- Canada
Listings
Biography
Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT owns well-located, high-quality office properties, primarily in downtown Toronto.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/15 22:36 |
| End of Day Share Price | 2021/04/15 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.