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Dream Industrial Real Estate Investment Trust (T:DIR.UN)

Business Focus: Industrial REITs

Sector:  Real Estate Industry:  Commercial REITs
Company Contact
Address: 30 Adelaide St E Suite 301
Tel: N/A
IR: See website
Key People
Alexander Sannikov
President, Chief Operating Officer
Brian Daniel Pauls
Chief Executive Officer, Non-Independent Trustee
Lenis W. Quan
Chief Financial Officer
Business Overview
Dream Industrial Real Estate Investment Trust (Trust) is a Canada-based open-ended real estate investment trust. The Trust's objective is to continue to grow and upgrade the quality of its portfolio, which primarily consists of distribution and urban logistics properties, and to provide attractive overall returns to its unitholders. The Trust owns, manages and operates a global portfolio comprising approximately 258 assets totaling approximately 46.5 million square feet of gross leasable area (GLA) in key markets across Canada, Europe and the United States. The Trust owns and operates a diversified portfolio of distribution, urban logistics and light industrial properties across key markets in Canada, the United States and Europe. Its portfolio of properties include Zibi, 212 King West, First Purpose Built Indigenous Hub, Brightwater and others.
Financial Overview
For the nine months ended 30 September 2023, Dream Industrial Real Estate Invest Trst revenues increased 21% to C$326.7M. Net income decreased 85% to C$113.1M. Revenues reflect Western Canada segment increase from C$17M to C$54.9M, FFO per Share (Diluted) increase of 14% to C$0.25. Net income was offset by Net Operating Income (NOI)-equity decrease from -C$3.5M to -C$15.7M.
Employees: 108 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $5,814M as of Sep 30, 2023
Annual revenue (TTM): $425.55M as of Sep 30, 2023
EBITDA (TTM): $276.64M as of Sep 30, 2023
Net annual income (TTM): $78.97M as of Sep 30, 2023
Free cash flow (TTM): $137.80M as of Sep 30, 2023
Net Debt Last Fiscal Year: $2,766M as of Sep 30, 2023
Shares outstanding: 285,830,155 as of Nov 16, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization