Overview

* Dream Unlimited's ( DRUNF ) Q3 revenue rises to C$114.6 mln from C$95.7 mln in the year-ago period

* Company reports improved net margin driven by higher lot and acre sales in Western Canada

* Dream Residential REIT divestiture is expected to generate over C$35 mln for Dream, enhancing liquidity

Outlook

* Dream expects strong Q4 driven by lot and acre sales

* Company on track to achieve its 2025 targets

* Dream Residential REIT divestment expected to close in Q4

Result Drivers

* WESTERN CANADA STRENGTH - Net margin from Western Canada development increased to C$11.4 mln from C$7.1 mln YoY, driven by strong sales

* ASSET MANAGEMENT GROWTH - Steady base fee growth in asset management with C$28 bln AUM as of Sept. 30, mainly in industrial and residential sectors

* IMPROVE RENTAL INCOME - Net operating income from income properties grew on strong leasing activity

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$114.58

Revenue mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

* Wall Street's median 12-month price target for Dream Unlimited Corp ( DRUNF ) is C$32.50, about 43.7% above its November 11 closing price of C$18.30

* The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)