Dream Unlimited (TSE:DRM) Reaches New 1-Year Low - Here's Why

Key Points

• Dream Unlimited shares hit a new 52-week low of C$16.64, down from the prior close of C$16.74, with the stock trading below its 50- and 200-day moving averages.
• Despite the decline, analysts remain positive: the stock has an average “Buy” rating and a consensus price target of C$28.00, well above its recent trading level.
• The company declared a quarterly dividend of C$0.175, equivalent to C$0.70 annually and a 4.2% yield; however, its 321.43% payout ratio significantly exceeds reported earnings.

Dream Unlimited Corp. (TSE:DRM - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as C$16.64 and last traded at C$16.64, with a volume of 1128 shares trading hands. The stock had previously closed at C$16.74.

Analyst Ratings Changes

A number of equities analysts recently commented on DRM shares. TD raised their price objective on shares of Dream Unlimited from C$29.00 to C$30.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Scotia set a C$25.00 target price on shares of Dream Unlimited and gave the company a "sector outperform" rating in a research note on Thursday, September 10th. Finally, Scotiabank upgraded Dream Unlimited to a "strong-buy" rating in a report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$28.00.

Dream Unlimited Stock Down 0.4%

The company has a market cap of C$699.19 million, a price-to-earnings ratio of 79.38 and a beta of 1.44. The company has a current ratio of 209.05, a quick ratio of 0.67 and a debt-to-equity ratio of 145.27. The business has a fifty day moving average price of C$18.52 and a two-hundred day moving average price of C$18.91.

Dream Unlimited (TSE:DRM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported C($0.02) EPS for the quarter. Dream Unlimited had a return on equity of 0.61% and a net margin of 1.87%.The company had revenue of C$0.07 million for the quarter. On average, equities analysts predict that Dream Unlimited Corp. will post 1.9481391 earnings per share for the current year.

Dream Unlimited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.1750 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.2%. Dream Unlimited's dividend payout ratio is 321.43%.

Dream Unlimited Company Profile

Dream is a leading real estate developer and has an established and successful asset management business, inclusive of $28 billion of assets under management (1) across three Toronto Stock Exchange ('TSX') listed trusts, our private asset management business and numerous partnerships. We develop land and housing in our master planned communities in Western Canada and hold a growing portfolio of income generating properties across Canada. Dream expects this area of our business to grow as investment properties under construction are completed and held for the long-term.

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