Dream Industrial Real Estate Invest Trst (TSE:DIR.UN) Stock Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• Dream Industrial REIT shares fell below their 200-day moving average, trading as low as C$13.32 versus the C$13.70 average, and last changing hands at C$13.41 on volume of 511,200 shares.
• Analysts remain bullish: Canaccord Genuity, Desjardins, National Bank Financial, and TD raised their price targets to between C$16.00 and C$16.75. MarketBeat reports a consensus “Buy” rating and an average target of C$15.47.
• The REIT reported quarterly revenue of C$131.42 million and earnings of C$0.11 per share, with a 37.00% net margin and 3.88% return on equity.

Dream Industrial Real Estate Invest Trst (TSE:DIR.UN - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.70 and traded as low as C$13.32. Dream Industrial Real Estate Invest Trst shares last traded at C$13.41, with a volume of 511,200 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DIR.UN shares. Canaccord Genuity Group boosted their price target on Dream Industrial Real Estate Invest Trst from C$15.50 to C$16.50 and gave the company a "buy" rating in a research note on Thursday, August 6th. Desjardins raised their price objective on Dream Industrial Real Estate Invest Trst from C$15.50 to C$16.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. National Bank Financial lifted their price objective on Dream Industrial Real Estate Invest Trst from C$16.25 to C$16.75 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, TD lifted their price objective on Dream Industrial Real Estate Invest Trst from C$15.50 to C$16.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$15.47.

Dream Industrial Real Estate Invest Trst Price Performance

The company has a quick ratio of 0.24, a current ratio of 0.40 and a debt-to-equity ratio of 63.72. The stock has a market capitalization of C$3.76 billion, a price-to-earnings ratio of 23.20 and a beta of 1.15. The business's 50 day simple moving average is C$14.20 and its 200-day simple moving average is C$13.70.

Dream Industrial Real Estate Invest Trst (TSE:DIR.UN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported C$0.11 EPS for the quarter. Dream Industrial Real Estate Invest Trst had a net margin of 37.00% and a return on equity of 3.88%. The company had revenue of C$131.42 million during the quarter. On average, research analysts forecast that Dream Industrial Real Estate Invest Trst will post 0.892928 earnings per share for the current year.

Dream Industrial Real Estate Invest Trst Company Profile

Dream Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust. Its portfolio comprises industrial properties located in key markets across Canada and the U.S. Its objective is to build upon and grow its portfolio and to provide stable and sustainable cash distributions to its unitholders. Geographically the business is organized into Ontario, Quebec, Western Canada, Europe and the USA. Substantial revenue is derived from the Canadian portfolio.

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