11:13:33 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Dream Global Real Estate Investment Trust
Symbol DRG
Shares Issued 192,588,442
Close 2019-02-08 C$ 13.08
Market Cap C$ 2,519,056,821
Recent Sedar Documents

Globe says Dream Global REIT has JV opportunities

2019-02-08 06:50 ET - In the News

The Globe and Mail reports in its Friday, Feb. 8, edition that Dream Global REIT ($13.05) is one of National Bank's top-yielding stock picks for 2019. The Globe's Jennifer Dowty writes that National analyst Matt Kornack's mid-cap high-yield security recommendation is Dream Global REIT. Dream Global's portfolio consists of office, industrial and mixed-used properties located in Germany, the Netherlands, Austria and Belgium. Mr. Kornack suggests in a note, "Given the increased scale of the portfolio, there are now opportunities for JV [joint venture] asset sales to further diversification and provide capital for future acquisition activity while augmenting FFO through management fee income." Mr. Kornack has a unit target price of $15.50, implying a price-to-adjusted funds from operations multiple of 16 times his 2019 estimate. The REIT pays its unitholders a monthly distribution of 6.667 cents per unit, or 80 cents per unit yearly, translating into an annualized yield of over 6 per cent. The Globe's guest columnist Gordon Pape said buy Dream Global units on April 24, 2018. He said the units had resisted downward pressures and were holding up "quite well in 2018." The units were then worth $14.13.

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