Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (CAD) | Target 1 (CAD) | Target 2 (CAD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 17 Feb, 26 | DIR-UN | Buy | CAD 13.05 | CAD 13.8 | CAD 14.35 | 80 days | Closed |
8.66%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 322 industrial assets totaling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT's goal is to deliver strong total returns to its unitholders through secure cash flows underpinned by its high-quality portfolio and an investment grade balance sheet as well as driving growth in its net asset value and cash flow per unit.
Higher ROA: 0.6% in Q3 2025 vs 0.2% in Q3 2024
Higher Operating Margin: 36.7% in Q3 2025 vs 13.5% in Q3 2024
Higher Debt to Equity Ratio: 0.65x in Q3 2025 vs 0.63x in Q3 2024
Lower EBITDA Margin: 62.7% in Q3 2025 vs 67.6% in Q3 2024
Regulatory risks, Trade tariffs, Inflationary pressures, Lower cash flows, etc.
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 13.05 | 12.0 | 13.8 | 14.35 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Consistent FFO Growth: Same Community NOI rose 2.7% YoY in Q3 2025 despite weak headline revenue. This signals cost discipline and operating leverage. Tax refunds and lower insurance costs are flowing straight to the bottom line. It shows management can protect earnings even in a soft rent cycle
Decent Rental Income Expansion: Net rental income rose 8.8% YoY to CAD 98.4 mn in Q3 2025, driven by higher rents across Ontario, Western Canada, and Europe. Decent tenant demand and lease-up of development assets supported growth. Rising rental income directly boosts operating leverage. This reinforces the REIT’s organic growth trajectory
Robust Leasing Spreads: The REIT achieved ~28% weighted average rental spreads on new leases, with Ontario spreads reaching 43%. This highlights significant mark-to-market rent upside. Market rents remain above in-place rents, providing continued re-leasing gains. Strong spreads position the REIT for sustained NOI growth
Considering the expected valuation upside, capital recycling strategy, discount to NAV valuation, healthy distribution coverage, investment-grade balance sheet, high liquidity position, private capital platform growth, resilient industrial demand, long-term organic growth visibility, and key business risks, a 'Buy’ recommendation has been given on the stock at the last closing price of CAD 13.05, as on February 13, 2026
Data Powered by EOD Historical Data (“EODHD”).
Sector: Real Estate Industry: REIT - Industrial
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| DIR-UN Dream Industrial Real Estate Investment Trust |
-0.01 0.07% | 14.72 | 51.77 | 14.81 | 9.15 | 0.82 | 15.47 | 51.53 |
| GRT-UN Granite Real Estate Investment Trust |
-0.32 0.32% | 99.10 | - | 14.49 | 9.38 | 0.90 | 15.11 | 524.00 |
| NXR-UN Nexus Real Estate Investment Trust |
-0.04 0.48% | 8.31 | 4.79 | 10.06 | 5.03 | 0.55 | 11.04 | 9.43 |
| PRV-UN Pro Real Estate Investment Trust |
-0.02 0.28% | 7.23 | 9.93 | 11.56 | 3.33 | 0.65 | 8.36 | 15.36 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on February 17, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
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