Dream Office REIT is an unincorporated, open-ended real estate investment trust. More Details
Undervalued second-rate dividend payer.
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 +/- 2% a week.
Volatility Over Time: D.UN's weekly volatility (2%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: D.UN underperformed the Canadian REITs industry which returned 24% over the past year.
Return vs Market: D.UN underperformed the Canadian Market which returned 34.7% over the past year.
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
2 weeks ago | Simply Wall StHere's Why Dream Office Real Estate Investment Trust's (TSE:D.UN) CEO Is Unlikely to Expect A Pay Rise This Year
1 month ago | Simply Wall StIf You Like EPS Growth Then Check Out Dream Office Real Estate Investment Trust (TSE:D.UN) Before It's Too Late
3 months ago | Simply Wall StWhat Kind Of Shareholders Hold The Majority In Dream Office Real Estate Investment Trust's (TSE:D.UN) Shares?
Is Dream Office Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: D.UN (CA$23.53) is trading below our estimate of fair value (CA$36.87)
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 (9.6x) compared to the Canadian REITs industry average (11.9x).
PE vs Market: D.UN is good value based on its PE Ratio (9.6x) compared to the Canadian market (14.7x).
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 (0.8x) compared to the CA REITs industry average (0.9x).
How is Dream Office Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
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 (-11.4% per year).
High Growth Revenue: D.UN's revenue is forecast to decline over the next 3 years (-11.4% 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
How has Dream Office Real Estate Investment Trust performed over the past 5 years?
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 (48.4%) are lower than last year (65.4%).
Past Earnings Growth Analysis
Earnings Trend: D.UN has become profitable over the past 5 years, growing earnings by 66.6% per year.
Accelerating Growth: D.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: D.UN had negative earnings growth (-31.2%) over the past year, making it difficult to compare to the REITs industry average (-25.6%).
Return on Equity
High ROE: D.UN's Return on Equity (8.3%) is considered low.
How is Dream Office Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: D.UN's short term assets (CA$39.6M) do not cover its short term liabilities (CA$388.8M).
Long Term Liabilities: D.UN's short term assets (CA$39.6M) do not cover its long term liabilities (CA$1.0B).
Debt to Equity History and Analysis
Debt Level: D.UN's debt to equity ratio (81%) is considered high.
Reducing Debt: D.UN's debt to equity ratio has reduced from 87.8% to 81% over the past 5 years.
Debt Coverage: D.UN's debt is not well covered by operating cash flow (8.3%).
Interest Coverage: D.UN's interest payments on its debt are well covered by EBIT (3.2x coverage).
What is Dream Office Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: D.UN's dividend (4.25%) is higher than the bottom 25% of dividend payers in the Canadian market (1.6%).
High Dividend: D.UN's dividend (4.25%) is low compared to the top 25% of dividend payers in the Canadian market (4.47%).
Stability and Growth of Payments
Stable Dividend: D.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: D.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (58.9%), D.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Michael Cooper (59 yo)
Mr. Michael J. Cooper serves as Portfolio Manager of Dream Impact Trust. Mr. Cooper has been Chief Executive Officer of Dream Office Real Estate Investment Trust since January 1, 2018 and previously served...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD1.08M) 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.
Experienced Management: D.UN's management team is considered experienced (3.1 years average tenure).
Experienced Board: D.UN's board of directors are considered experienced (6.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Dream Office Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
- Name: Dream Office Real Estate Investment Trust
- Ticker: D.UN
- Exchange: TSX
- Founded: NaN
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: CA$1.192b
- Shares outstanding: 50.67m
- Website: https://www.dream.ca/office
Number of Employees
- Dream Office Real Estate Investment Trust
- State Street Financial Center
- Suite 301
- M5C 3H1
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||2021/06/19 23:30|
|End of Day Share Price||2021/06/18 00:00|
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.