DREAM Un Cl A, the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Mark Rothschild from Canaccord Genuity maintained a Buy rating on the stock and has a C$38.00 price target.
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Mark Rothschild has given his Buy rating due to a combination of factors, including strong recent financial performance and visible growth in recurring income. Dream Unlimited has materially increased FFO per share, supported by promote fees from its joint venture with Dream Industrial and by the continued progress on a sizable development pipeline, while robust demand for single-family housing in Saskatchewan and Alberta underpins profitable lot sales.
The company is also enhancing shareholder returns through an 8% dividend increase, a moderate payout ratio, and an expanded share repurchase program at a roughly 50% discount to Rothschild’s NAV estimate, implying substantial upside. With his NAV per share estimate at C$43.57 and a target price of C$38.00, he sees an attractive 80% implied return, which, combined with growing recurring income and disciplined capital deployment, supports his Buy recommendation on Dream Unlimited.
According to TipRanks, Rothschild is a 5-star analyst with an average return of 10.6% and a 69.98% success rate. Rothschild covers the Real Estate sector, focusing on stocks such as DREAM Un Cl A, Storagevault Canada, and RioCan Real Estate Investment.