Dream Global REIT (DRG.UN.TO) Buy, Sell or Hold

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Dream Global REIT (DRG.UN.TO)

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16.79

+0.01 (0.06%)

as of Dec 11, 2019, 9:00:00 pm Market Open.

84 watching

DON'T BUY

Really likes it. Agreed to be acquired by Blackstone. Wouldn't recommend it at this point. Doesn't see a higher bidder. Great opportunity to look at other Canadian REITs with global assets. Look at Granite REIT instead.

PAST TOP PICK

(A Top Pick May 30/19, Up 7%) A Euro play in Germany and Holland. Their Q2: the German office market remains strong. They can continue to tap the European markets where interest rates are negative, a competitive advantage to North America; trades at 22% discount to NAV that managers want to shrink. Yields 5.5%.

PARTIAL SELL

If you have profits, take some off the table, and put them into another industrial like WPT that offers better value.

BUY

An office focused REIT with assets in Germany and the Netherlands. He is not a fan of the parent organization, but is not a huge concern. Vacancy rates in Germany are less than 4%. He sees good office rental growth opportunity, which is averaging 7% per year. There is still room to run.

TOP PICK

Office and industrials in Germany and the Netherlands. Advantage over Canadian peers because of negative interest rates in Germany. Yield is 5.9%. (Analysts’ price target is $16.08)

DON'T BUY

He met them last week. A good company. Its dividend pays 5.9% which is safe. But he's apprehensive about Dream because this REIT is based in Europe with lots of regulatory hurdles across many countries. That's tricky.

BUY

vs. D.UN-T D.UN isn't cheap at 19.2x. It's improved its asset base to higher quality, focusing on Toronto. Decent 6% growth. They've already had their big move though. DRG.UN has room to go, in contrast. It's a play on Germany and Holland. He see slightly growth, but a much cheaper valuation than D.UN AT 14.5x. Similar balance sheets. Safe payout ratio. He prefers D.UN.

PAST TOP PICK

(A Top Pick Oct 31/18, Down 12%) Has underperformed. Pretty strong support where we are right now.

TOP PICK

Relative strength is strong. It remains one of the top performing REITs. It is more defensive. (Analysts’ price target is $15.51)

PAST TOP PICK

(A Top Pick Aug 14/18, Down 5%) One of his income plays. It’s in Europe, so cash generation outside of Canada will be beneficial. Most assets are in Germany, which gives cash flow safety. Yield is 5.9%.

BUY

It's doing well in European markets that are still catching up to North America. European office markets' fundamentals have lagged ours. You'll be fine with this. But management may consider an equity raise. He really likes the office space in France and Spain.

TOP PICK

His favourite REIT, because most of the cash flow is coming from Europe, and he wants to generate more cash outside Canada. (Analysts' price target: $15.54)

COMMENT

Inovalis (INO.UN-T) or Dream Global (DRG.UN-T)? There is probably too much duplication to own both. Management has done a very, very good job since the IPO. They’ve grown through acquisition and have diversified. They own an institutional quality portfolio, and thinks they have an opportunity to grow in continental Europe. Their assets are primarily in Germany. Instead of buying Canadian names that have exposure to Europe, he is actually going directly into Europe and buying some names.

HOLD

It is a decent name if you own it. It is tough to switch out of it. He has preferred names including a top pick today. Management promised to diversify the portfolio and they did a good job of that. The payout ratio is high so this is why he is cautious on it. There are risks in the devaluation of the Euro. He does not think they will have to cut the dividend.

HOLD

(Market Call Minute.) Trading at a sizable discount to NAV. However, there are still some single tenant risks. There are other global names he likes more.

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Dream Global REIT (DRG.UN.TO) Frequently Asked Questions

What is Dream Global REIT stock symbol?

Dream Global REIT is a Canadian stock, trading under the symbol DRG.UN.TO (previously DRG.UN-T on Stockchase) on the Toronto Stock Exchange (DRG.UN-CT). It is usually referred to as TSX:DRG.UN or DRG.UN.TO

Is Dream Global REIT a buy or a sell?

In the last year, no analyst issued a Buy, Sell, or Hold rating on DRG.UN.TO (previously DRG.UN-T on Stockchase) on Stockchase. Read the latest expert commentary for Dream Global REIT.

Is Dream Global REIT a good investment or a top pick?

Dream Global REIT was recommended as a Top Pick by Andy Nasr on 2016-09-20. Read the latest stock experts ratings for Dream Global REIT.

Why is Dream Global REIT stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for Dream Global REIT.

Is Dream Global REIT worth watching?

Dream Global REIT is followed by 84 investors on Stockchase and is a trending stock that is worth watching.

What is Dream Global REIT stock price?

On 2019-12-11, Dream Global REIT (DRG.UN.TO) stock closed at a price of $16.79.

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Jim Cramer - Mad Money

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Private Wealth Management, ScotiaMcleod

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