Dream Industrial Real Estate Investment Trust (DIR-UN) Fair Value & Analysis
Real Estate · CA · Market cap C$4.2B
Fair value as of: Jul 16, 2026
From 26 valuation models · updated 5 days ago
Share price +5.3% over the past month.
Price vs Fair Value (12 months)
12‑month range C$10.99 – C$14.73 · fair‑value band C$7.74 – C$12.90 · the C$14.73 price screens above the C$10.32 fair value. As of Jul 16, 2026.
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Dream Industrial Real Estate Investment Trust (DIR-UN) currently trades at C$14.73, while our model-based Fair Value estimate is C$10.32, implying the stock looks roughly 29.9% overvalued today. We read business quality at 57/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Dream Industrial Real Estate Investment Trust generated revenue of C$540M at a net margin of 34.3%. Revenue grew 12.3% year over year. It earns a return on equity of 3.9%. Net debt stands at C$3.1B. Fundamentals as of Jul 16, 2026
Our scenario range runs from C$7.74 (bear case) to C$12.90 (bull case); at C$14.73, the current price sits above that range. The share trades near its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -34% fair-value upside, at -30%, DIR-UN screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 16, 2026. TTM = trailing twelve months.
About the company
Dream Industrial Real Estate Investment Trust is an owner, manager, and operator of a global portfolio of well-located, diversified industrial properties. As at December 31, 2025, Dream Industrial REIT has an interest in and manages a portfolio which comprises 342 industrial assets (555 buildings) totaling approximately 73.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT's objective is to deliver strong total returns to its unitholders through secure distributions as well as growth in net asset value and cash flow per unit underpinned by its high-quality portfolio and an investment grade balance sheet. Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. Dream Industrial Real Estate Investment Trust was established on July, 20 2012 in Ontario, Canada.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Dream Industrial Real Estate Investment Trust reported revenue of C$508M in FY2025 versus C$290M in FY2021, a compound +15.1%/yr. Reported net income was C$170M in FY2025, compounding −27.3%/yr from FY2021.
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Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $140.53 | $61.28 | -56% |
| Public Storage, a member of the S&P 500, PSA | $325.94 | $215.22 | -34% |
| Extra Space Storage Inc E1XR34 | R$183.42 | R$90.45 | -51% |
| SEGRO Plc SEGXF | $11.50 | $4.60 | -60% |
| EastGroup Properties, Inc EGP | $204.89 | $126.92 | -38% |
| Lineage, Inc LINE | $41.38 | $35.41 | -14% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.50 SGD | 2.16 SGD | -14% |
| CubeSmart CUBE | $40.49 | $34.24 | -15% |
| First Industrial Realty Trust, Inc FR | $61.80 | $27.33 | -56% |
| STAG Industrial, Inc S2TA34 | R$38.60 | R$25.62 | -34% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.