Dream Office Real Estate Investment Trust T.D.UN

LISTENING TO CC NOW

[garyreins]

Cooper is explaining the dividend cut .  Says the board had a responsibility for capital allocation to be better positioned for any shocks. But the company is doing well according to their projections and it just means they are more flush with cash, overall value of the company is better, and says opportunity to raise it when economic conditions become more stable is there.

[ScroogeMcDuck1]

Link?

[EstevanOutsider]

the results were solid and the call was even better, cooper says there is significant buyers interest on the spanda and university property while expecting a jv opportunity to surface in a couple quarters on king street. if idiots sell it tmrw i will be adding to my position. $10.49 average.

[BlueJay2020]

Any rationale given for slashing the distribution?

[garyreins]

RATIONALE FOR DIVIDEND CUT: Be defensive and try to get 50m in liquidity

[EstevanOutsider]

also good to hear about the 1 million in square feet being sought by government, crown corp and tech tenanst in d/t currently. cooper sounded more optimistic on a recovery driven by office demand rather than residential conversions. reducing the distribution to preserve liquidity makes sense given the lack of respect for the yield. if anything do what tnt is doing with buying back instead given

[ScroogeMcDuck1]

You guys heard the call and get it but I am pasting my yahoo comment here too Listened to the earnings call, here are the things that stood out to me: The business is doing fine and in line with projections. They have cut the dividend out of caution and the share consolidation is for optics. The retained cash from reduced dividend is used to attract and lease new tenants. They spend 6-8$ a square

[EstevanOutsider]

Good post Scrooge - great summary. Thanks.

[Frankie10]

I agree, fundamentally the quarter was solid and the call was very positive. If the stock takes a beating tomorrow I will look to start my buying at the end of the day. NAV discount is roughly 75% and annualized Q4 FFO return is roughly 16%, at the current price. Should price fall meaningfully, not buying at these valuations would be disrespectful to my future kids. Who knows where price goes and