Dream Residential REIT (DRR.UN-T)
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Dream Residential REIT (DRR.UN-T) has been noted for its significant ownership of US properties, specifically in key Sunbelt markets. While some experts highlight its appeal as a potentially undervalued stock trading below its net asset value (NAV) by over 30%, others point out that due to its smaller size, it might not be attractive for larger investors at this moment. Comparisons with DIR.UN indicate that while DRR.UN has an older portfolio, DIR.UN offers superior growth prospects with its internal advantages. Additionally, the properties in DRR.UN, primarily garden-style townhomes and apartments in Texas and Cincinnati, cater to middle-class renters, positioning it well for potential rent increases. Analysts generally have a positive outlook, suggesting it is a mispriced opportunity with a safe dividend and favorable consensus, as indicated by an average price target of $12.56.
He focuses on supply and demand, and then goes bottom-up looking for discounts. Fundamentals in industrials in Canada and Europe are far superior today to US multi-family, especially in the Sunbelt.
It's a new construction supply problem, and demand won't be able to keep up. DRR.UN owns an older portfolio in key Sunbelt markets. Wide discount to NAV. Low liquidity, so no premium.
DIR.UN has stellar internal growth prospects. Spread between in-place rents and market rents gives them an advantage. He'd choose this one. New construction will fall off 15% into next year, and empty space will be absorbed.
It has garden style town homes and apartments in Texas and Cincinnati. It appeals to middle class renters and could get rent increases. It is trading below its NAV by over 30% so is mis-priced. Its payout ratio is 65% to70% so the dividend of 6% is safe. Buy 7 Hold 1 Sell 0
(Analysts’ price target is $12.56)DRR.UN is a small-cap REITs focusing on residential properties, and is now trading at 8.2x times' Forward P/E. The company owns a portfolio of properties with a high occupancy level of 98%. Trading at a meaningful discount to NAV of $17. In the last few years, the company managed to grow distributions per share and NAV per share at attractive rates. Having said that, the balance sheet is highly leveraged, net debt to adjusted EBITDA is around 9.0x, and available liquidity is around $243M. However, the total debt service requirement amount for the remainder of 2023 is $131M, and 2024 is around $350M. The company's small size and leverage add significant risks if the economy/fundamentals were to falter. Payout ratio (12 months). As a new small public company, in a higher interest rate environment, we think investors can wait and watch this one and see how it performs as a public entity. We think buyers have time here.
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Newer REIT. Apartment buildings in the US. Rents are lower, assets are older. Small. Trades at a nice discount. Pretty attractive cap rate of 7.7%. Other REITs are larger, more liquid, with more institutional-quality real estate. Decent hold, but better opportunities elsewhere.
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Dream Residential REIT(DRR.UN-T) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 1
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 1
Total Signals / Votes : 2
Dream Residential REIT(DRR.UN-T) Frequently Asked Questions
What is Dream Residential REIT stock symbol?
Dream Residential REIT is a OTC stock, trading under the symbol DRR.UN-T on the (). It is usually referred to as or DRR.UN-T
Is Dream Residential REIT a buy or a sell?
In the last year, 2 stock analysts published opinions about DRR.UN-T. 1 analyst recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Dream Residential REIT.
Is Dream Residential REIT a good investment or a top pick?
Dream Residential REIT was recommended as a Top Pick by on . Read the latest stock experts ratings for Dream Residential REIT.
Why is Dream Residential REIT stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Dream Residential REIT worth watching?
2 stock analysts on Stockchase covered Dream Residential REIT In the last year. It is a trending stock that is worth watching.
What is Dream Residential REIT stock price?
On , Dream Residential REIT (DRR.UN-T) stock closed at a price of $.
Large ownership of US properties. Too small to own at this point, but very cheap stock that could have a lot of value.