Overview

* Dream Residential REIT Q3 net rental income stable at $7.8 mln, consistent with prior year

* Comparative properties NOI increased 4.5% to $6.4 mln in Q3 2025

* Company previously entered agreement to be acquired by Morgan Properties in all-cash transaction

Outlook

* Company expects acquisition by Morgan Properties to close in late 2025

Result Drivers

* INCREASED REVENUE - Comparative properties NOI rose 4.5% due to higher investment properties revenue

* OCCUPANCY DECLINE - Portfolio occupancy fell to 93.7% from 95.2% in Q2 2025

* RENOVATION IMPACT - Completed renovations on 13 units in Greater Cincinnati region, boosting lease trade-outs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $7.79

Revenue mln

Q3 Net -$55.54

Income mln

Q3 FFO $3.58

mln

Q3 NOI 51.80%

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "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 Residential Real Estate Investment Trust ( DRREF ) is $10.80, about 2.4% above its November 4 closing price of $10.54

* The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 22 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.)