2024-02-24 03:12:52 ET
Summary
- Dream Industrial REIT's Q4 earnings showed strong rent growth and resilient occupancy, but its valuation remains high.
- Occupancy remained stable except for declines in Ontario and Europe, which are expected to be backfilled quickly at higher rates.
- Trading roughly in line with our NAVPU estimate, we do not see an attractive margin of safety right now and maintain our Hold rating.
Summary
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Dream Industrial: Rent Growth Still Cruising, But We're Still Snoozing