DREAM Un Cl A (DRM) AI Stock Analysis

• Market Cap: C$889.12M
• Dividend Yield: 7.77%
• Average Volume (3M): 29.04K
• Price to Earnings (P/E): 10.9
• Beta (1Y): 1.94
• Revenue Growth: -26.40%
• EPS Growth: N/A
• Country: CA
• Employees: 500
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): -0.25
• Shares Outstanding: 40,620,907
• 10 Day Avg. Volume: 26,151
• 30 Day Avg. Volume: 29,043
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$38.00
• Price Target Upside: 80.27% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 57 Neutral
• Price Target: C$21.50 ▲(1.99% Upside)

DREAM Un Cl A's overall score is driven by strong profitability and an attractive valuation, despite challenges in revenue growth and cash flow. The earnings call provided a positive outlook on long-term growth, but technical indicators suggest caution due to potential bearish momentum.

Positive Factors

Western Canada Development

The approval of 1,200 acres in Regina provides a substantial long-term growth opportunity, enhancing DREAM's market position in Western Canada and potentially driving significant revenue over the next 20 years.

Income Properties Expansion

The expansion to nearly 1,000 units in the income properties segment indicates strong growth potential. This consistent expansion enhances recurring revenue streams and strengthens DREAM's position in the real estate market.

Asset Management Growth

The growth in assets under management by $2.5 billion reflects DREAM's ability to attract and manage large-scale investments, which can lead to increased management fees and improved profitability over time.

Negative Factors

Revenue Decline

A 20.59% decline in revenue is concerning as it may indicate challenges in maintaining market share or pricing power, potentially impacting long-term growth and profitability.

Negative Cash Flow

Negative cash flows suggest liquidity issues, which could hinder DREAM's ability to fund operations and growth initiatives, posing risks to financial stability and strategic flexibility.

Impact Trust Struggles

Struggles in the Impact Trust segment highlight potential vulnerabilities in DREAM's portfolio, as external challenges like the housing crisis could limit growth and profitability in this area.

DREAM Un Cl A Business Overview & Revenue Model

Company Description

Dream Unlimited Corp. formerly known as Dundee Realty Corporation is a real estate investment firm. The firm provides real estate asset management and advisory services including sourcing, acquiring, managing, and developing commercial and residential real estate primarily in Western Canada. It invests in the real estate markets across the globe. The firm also seeks to invest in renewable energy infrastructure and power projects with a focus on wind, hydro, and solar in North American. Dream Unlimited Corp. was founded in 1996 and is based in Toronto, Canada.

How the Company Makes Money

DREAM Unlimited Corp makes money primarily through its diverse portfolio of real estate investments. Key revenue streams include income from property management services, leasing of office and retail spaces, and sales of residential properties. The company also generates earnings from its asset management services, where it manages real estate and infrastructure assets on behalf of institutional clients. Additionally, DREAM Unlimited has strategic partnerships and joint ventures that contribute to its earnings by leveraging shared expertise and resources to develop large-scale projects. The company focuses on sustainable practices and urban development, which enhances its appeal to investors and tenants, further contributing to its revenue growth.

DREAM Un Cl A Financial Statement Overview

Summary

DREAM Un Cl A shows strong profitability with high margins but faces challenges with declining revenues and negative cash flows. The balance sheet indicates moderate leverage, which requires careful management to avoid financial strain.

Income Statement

The income statement shows mixed results. The TTM data indicates a significant revenue decline of 20.59%, which is concerning. However, the company maintains strong profitability with a high net profit margin of 31.84% and a gross profit margin of 35.21%. The EBIT and EBITDA margins are also robust at 47.67% and 48.65%, respectively. Despite the revenue drop, the company has managed to maintain healthy margins, indicating good cost control.

Balance Sheet

The balance sheet reflects a moderate level of financial leverage with a debt-to-equity ratio of 1.26. The return on equity (ROE) is 11.63%, which is reasonable but shows a decline from previous periods. The equity ratio stands at 37.39%, indicating a balanced capital structure. However, the increasing debt levels could pose a risk if not managed carefully.

Cash Flow

The cash flow statement reveals challenges, with negative operating and free cash flows in the TTM period. The free cash flow growth rate is exceptionally high at 1184.53%, but this is due to a low base effect. The operating cash flow to net income ratio is very low at 0.02, and the free cash flow to net income ratio is negative, indicating potential liquidity issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	424.61M	624.51M	386.95M	343.77M	325.92M	347.62M
Gross Profit	136.94M	201.66M	125.19M	113.61M	91.14M	105.15M
EBITDA	194.59M	304.89M	68.31M	106.88M	140.34M	152.62M
Net Income	81.03M	187.86M	-117.08M	164.44M	110.03M	159.22M
Balance Sheet
Total Assets	3.89B	3.92B	3.88B	3.96B	3.49B	2.84B
Cash, Cash Equivalents and Short-Term Investments	75.67M	83.88M	60.20M	47.63M	52.56M	185.12M
Total Debt	1.92B	1.88B	1.82B	1.64B	1.32B	768.62M
Total Liabilities	2.43B	2.42B	2.47B	2.40B	2.07B	1.44B
Stockholders Equity	1.45B	1.50B	1.40B	1.55B	1.42B	1.39B
Cash Flow
Free Cash Flow	-90.84M	-39.93M	-82.00M	-84.08M	-371.22M	-3.97M
Operating Cash Flow	-90.84M	-39.93M	-82.00M	-66.35M	67.02M	-82.50M
Investing Cash Flow	154.29M	132.37M	-66.82M	-137.05M	-477.17M	30.78M
Financing Cash Flow	-87.09M	-68.76M	161.39M	198.47M	277.59M	-151.67M

DREAM Un Cl A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.08
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DRM, the sentiment is Negative. The current price of 21.08 is above the 20-day moving average (MA) of 20.80, below the 50-day MA of 21.11, and above the 200-day MA of 20.20, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 44.56 is Neutral, neither overbought nor oversold. The STOCH value of 30.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:DRM.

DREAM Un Cl A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXR.UN	71 Outperform	C$749.95M	24.94	8.56%	8.28%	4.66%	-82.85%
MRG.UN	68 Neutral	C$953.07M	10.19	5.09%	4.16%	3.93%	-29.40%
DRM	57 Neutral	C$889.12M	10.87	5.58%	7.77%	-26.40%	―
AX.UN	55 Neutral	C$585.50M	-9.30	-3.65%	9.90%	-21.40%	71.00%
HOM.UN	52 Neutral	C$692.64M	-10.11	-10.72%	4.43%	-1.10%	61.83%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

DREAM Un Cl A Corporate Events

Dream Unlimited Corp. Declares Quarterly Dividend for Class A and B Shares

Dream Unlimited Corp. announced a quarterly cash dividend of $0.1625 per Class A Subordinate Voting Share and Class B Common Share, payable on September 30, 2025, to shareholders of record on September 15, 2025. This announcement reflects Dream’s ongoing commitment to providing shareholder value and indicates confidence in its financial stability and growth prospects, particularly as it continues to expand its portfolio of investment properties.

The most recent analyst rating on (TSE:DRM) stock is a Buy with a C$24.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.

Dream Unlimited Corp. Advances Western Canadian Developments Amid Strong Q2 Results

Dream Unlimited Corp. reported its second-quarter results, highlighting significant progress in its long-term business plan despite market uncertainties. The company is advancing its Western Canada land business with new communities in Saskatoon and Regina, and expanding Alpine Park in Calgary. Dream’s asset management business has grown by $2.5 billion over the past year, contributing to solid overall performance. The company’s strategic developments are expected to enhance profitability and provide growth opportunities, particularly in Regina, where the new Coopertown community will accommodate 21,000 residents over 20 years.

The most recent analyst rating on (TSE:DRM) stock is a Buy with a C$40.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.

Dream Unlimited and CentreCourt Launch Major Rental Development in Toronto

Dream Unlimited Corp. and CentreCourt Developments have announced a joint venture to develop a mixed-income rental community at 49 Ontario St. in downtown Toronto, addressing the city’s urgent housing needs. The project will include 1,226 multi-family units, with 22% designated as affordable housing, supported by significant government financing and development charge waivers. This collaboration marks a significant expansion of their partnership into purpose-built rental developments, leveraging CentreCourt’s construction efficiency and Dream’s expertise in public-private partnerships.

The most recent analyst rating on (TSE:DRM) stock is a Buy with a C$40.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.

Dream Unlimited Corp. to Announce Q2 2025 Financial Results

Dream Unlimited Corp. announced it will release its Q2 2025 financial results on August 12, 2025, followed by a conference call on August 13, 2025, to discuss the results. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (TSE:DRM) stock is a Buy with a C$40.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.

Dream Unlimited Corp. Declares Quarterly Dividend for Class A and B Shares

Dream Unlimited Corp. has announced a quarterly cash dividend of $0.1625 per Class A Subordinate Voting Share and Class B Common Share, payable on June 30, 2025, to shareholders of record on June 23, 2025. This announcement underscores Dream’s commitment to providing value to its shareholders and reflects its strong financial position and successful asset management operations.

The most recent analyst rating on (TSE:DRM) stock is a Buy with a C$40.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.