Review of Dream Industrial REIT

NOV 06, 2025 - DIR.UN owns and manages a global portfolio of diversified industrial assets. It is widely regarded as a high-quality monthly distribution payer due to its consistent record of distributions through full economic cycles, though distribution growth has been limited. The company’s valuation remains attractive, as DIR.UN continues to trade at a meaningful discount to NAV. Management has recently raised rents across the Canadian portfolio to align with market levels, which should benefit unitholders over the next few years. Additionally, there may be near-term upside potential from declining interest rates, which tend to support real estate valuations.

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Hemisphere Energy Corporation (HME $2.63)
- $2.63 P/E (TTM): 8.77X Cap: $248M
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WSP Global Inc. (WSP $217.10)
- $217.10 P/E (TTM): 29.14X Cap: $29.26B
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Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $35.27)
- $35.27 P/E (TTM): 27.77X Cap: $5.42B
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Descartes Systems Group Inc. (The) (DSG $99.63)
- $99.63 P/E (TTM): 43.34X Cap: $8.57B
- View DSG Profile
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Dream Industrial Real Estate Investment Trust (DIR.UN $12.22)
- $12.22 P/E (TTM): 33.03X Cap: $3.57B
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WELL Health Technologies Corp. (WELL $3.77)
- $3.77 Cap: $963M
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Topicus.com Inc. (TOI $97.51)
- $97.51 P/E (TTM): 316.28X Cap: $13.02B
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Lumine Group Inc. (LMN $23.97)
- $23.97 P/E (TTM): 92.75X Cap: $6.15B
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Q: Hi Again. Similar to my last question, with consolidation in mind, would you please rank the above holdings in order of "sell" to "keep".

Carl

Read Answer Asked by Carl on March 02, 2026

Crombie Real Estate Investment Trust (CRR.UN $15.59)
- $15.59 Cap: $2.91B
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Granite Real Estate Investment Trust (GRT.UN $80.10)
- $80.10 Cap: $4.85B
- View GRT.UN Profile
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Dream Industrial Real Estate Investment Trust (DIR.UN $12.22)
- $12.22 P/E (TTM): 33.03X Cap: $3.57B
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Q: The stock has moved up nicely over the last few months, is there a reasonable expectation this may continue. Anything special going on with this company? Which REIT would be your favourite vehicle in this sector with a similar dividend?

Read Answer Asked by Edgar on February 24, 2026

Brookfield Renewable Partners L.P. (BEP.UN $42.49)
- $42.49 Cap: $28.89B
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Brookfield Infrastructure Partners L.P. (BIP.UN $50.08)
- $50.08 P/E (TTM): 99.51X Cap: $23.06B
- View BIP.UN Profile
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Dream Industrial Real Estate Investment Trust (DIR.UN $12.22)
- $12.22 P/E (TTM): 33.03X Cap: $3.57B
- View DIR.UN Profile
- View Questions on DIR.UN
- View Reports on DIR.UN

Q: I'm in the process of using RIF withdrawals to augment a TFSA.
I have BIP, BEP and DIR as possible candidates to switch.

I'd appreciate your view on which stock has the most upside potential?

Read Answer Asked by Valerie on February 20, 2026