Dream Unlimited (TSE:DRM) Hits New 12-Month Low – Here’s What Happened

Dream Unlimited Corp. (TSE:DRM)’s share price reached a new 52-week low on Thursday . The stock traded as low as C$16.87 and last traded at C$16.87, with a volume of 3449 shares trading hands. The stock had previously closed at C$17.14.

Analyst Ratings Changes

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

Dream Unlimited Stock Performance

The stock has a market capitalization of C$709.26 million, a PE ratio of 80.52 and a beta of 1.44. The firm’s fifty day moving average is C$18.71 and its 200-day moving average is C$19.01. The company has a current ratio of 209.05, a quick ratio of 0.67 and a debt-to-equity ratio of 145.27.

Dream Unlimited (TSE:DRM) last announced its earnings results on Tuesday, August 11th. The company reported C($0.02) earnings per share 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. As a group, research analysts anticipate that Dream Unlimited Corp. will post 1.9481391 earnings per share for the current year.

Dream Unlimited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 15th. Dream Unlimited’s dividend payout ratio is currently 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.