Dream Unlimited (TSE:DRM) Hits New 1-Year High Following Dividend Announcement

Dream Unlimited Corp. (TSE:DRM)’s share price hit a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as C$30.30 and last traded at C$30.10, with a volume of 8715 shares changing hands. The stock had previously closed at C$29.92.

The newly announced dividend which will be paid on Monday, September 30th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, September 13th. Dream Unlimited’s dividend payout ratio is currently -545.45%.

Wall Street Analysts Forecast Growth

Separately, TD Securities increased their price objective on Dream Unlimited from C$33.00 to C$35.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th.

Dream Unlimited Stock Performance

The stock’s 50-day moving average price is C$23.94 and its 200 day moving average price is C$20.88. The company has a quick ratio of 0.67, a current ratio of 1.45 and a debt-to-equity ratio of 129.72. The company has a market cap of C$1.21 billion, a P/E ratio of -272.00 and a beta of 1.35.

Dream Unlimited (TSE:DRM) last announced its earnings results on Tuesday, August 13th. The company reported C$1.47 EPS for the quarter. Dream Unlimited had a negative net margin of 0.64% and a negative return on equity of 0.25%. The firm had revenue of C$178.27 million for the quarter. As a group, research analysts expect that Dream Unlimited Corp. will post 2.015625 EPS for the current fiscal year.

Dream Unlimited Company Profile

Dream Unlimited Corp. formerly known as Dundee Realty Corporation is a real estate investment firm. The firm provides real estate asset management and advisory services including sourcing, acquiring, managing, and developing commercial and residential real estate primarily in Western Canada. It invests in the real estate markets across the globe.