DREAM Unlimited Corp
DRM
ISIN null / Valor 55832214
DREAM Unlimited Corp
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About company
DREAM Unlimited Corp is a prominent Canadian real estate company established in 1994, managing over $26 billion in assets across North America and Europe. The company is known for its involvement in significant and transformative real estate projects, focusing on both residential and commercial developments. One of its notable projects is Forma, a high-profile condominium development in Toronto designed by renowned architect Frank Gehry. This project features two towers, standing 73 and 84 storeys tall, and offers luxury living with bespoke suite finishes, wellness spaces, and creative coworking areas. DREAM Unlimited Corp is recognized for its strategic investments and innovative approach in the real estate sector, aiming to deliver strong financial returns while contributing positively to the communities it serves.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (06.10.2025):
In the third quarter of 2024, Dream Unlimited Corp. reported a loss before income taxes of $17.0 million, a significant decrease from earnings of $4.1 million in the same period last year. This downturn was primarily due to the timing of lot sales in Western Canada and a fair value loss on Dream Impact Trust units. However, lower fair value losses on investment properties provided some offset.
Q3 2024 Financial Performance
Dream Unlimited Corp. reported a loss before income taxes of $17.0 million for Q3 2024, compared to earnings of $4.1 million in the previous year. The decline was mainly driven by the timing of lot sales in Western Canada and a fair value loss on Dream Impact Trust units.
Standalone Funds from Operations
The company's standalone funds from operations (FFO) for the third quarter were $0.09 per share on a pre-tax basis, down from $0.42 per share in the same period last year. This decrease is attributed to the aforementioned lot sales in Western Canada.
Nine-Month Earnings Overview
For the nine months ended September 30, 2024, Dream Unlimited Corp. reported earnings before income taxes of $54.6 million, marking an increase of $96.9 million compared to the previous year. This growth was driven by parcel sales in Edmonton and carried interest from the Dream US Industrial Fund, partially offset by fair value losses on Dream Impact Trust units.
Sale of Arapahoe Basin
Dream Unlimited Corp. proceeded with the sale of Arapahoe Basin to Alterra Mountain Company, with the transaction expected to close by year-end. The sale is anticipated to generate after-tax profits of approximately $110 million, which will be used to repay debt and for general corporate purposes. A special dividend of $1.00 per Subordinate Voting Share and Class B Share is also expected upon closing.
Impact of Fair Value Losses
In Q3 2024, the fair value loss on the liability for Dream Impact Trust units amounted to $7.5 million, compared to a gain of $13.7 million in the previous year. This change was due to an increase in Dream Impact Trust's unit price, alongside lower lot sales in Western Canada.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
511 M
Market cap (USD)
48,536
Daily traded volume (Shares)
22.07 / 21.37
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
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P/E ratio
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EPS (USD)
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Ratings & reviews
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