Dream Industrial Real Estate Invest Trst (TSE:DIR.UN) Stock Price Crosses 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$12.60 versus the C$13.69 average, and last changing hands at C$12.65 on volume of 625,298 shares.
• Despite the technical decline, all seven tracked analysts rate the stock a Buy, with an average price target of C$15.47; several firms recently raised their targets to between C$16.00 and C$16.75.
• The REIT reported quarterly earnings of C$0.11 per share on revenue of C$131.42 million. It owns industrial properties across Canada, the U.S. and Europe and focuses on stable cash distributions.

Shares of Dream Industrial Real Estate Invest Trst (TSE:DIR.UN - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.69 and traded as low as C$12.60. Dream Industrial Real Estate Invest Trst shares last traded at C$12.65, with a volume of 625,298 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on DIR.UN. TD raised their price objective on shares of 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. Canaccord Genuity Group increased their target price on Dream Industrial Real Estate Invest Trst from C$15.50 to C$16.50 and gave the company a "buy" rating in a report on Thursday, August 6th. Desjardins raised their target price 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 report on Thursday, August 6th. Finally, National Bank Financial lifted their price target 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. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$15.47.

Dream Industrial Real Estate Invest Trst Trading Down 1.2%

The business has a 50-day moving average of C$13.96 and a 200-day moving average of C$13.69. 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 cap of C$3.55 billion, a price-to-earnings ratio of 21.89 and a beta of 1.10.

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 earnings per share for the quarter. The company had revenue of C$131.42 million for the quarter. Dream Industrial Real Estate Invest Trst had a return on equity of 3.88% and a net margin of 37.00%. As a group, 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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