Dream Industrial Real Estate Investment Trust T.DIR.UN

Alternate Symbol(s): DREUF

Dream Industrial Real Estate Investment Trust is a Canada-based open-ended real estate investment trust. The Company owns, manages and operates a portfolio of 322 assets totaling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe and the United States. The Company owns and operates a diversified portfolio of distribution, urban logistics and light industrial properties across key markets in Canada, Europe and the United States. Across its regions, its portfolio consists of distribution, urban logistics and light industrial buildings: distribution buildings, urban logistics buildings and light industrial buildings. The Company’s properties include Quayside, FORMA, Zibi, 212 King West, First Purpose Built Indigenous Hub, Brightwater, Alpine Park, Canary Landing, Canary District, The Distillery District, The Broadview Hotel, Brighton, Arapahoe Basin, Brighton Village Rentals and others.

TSX:DIR.UN - Post by User

Dream Industrial Real Estate Investment Trust

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Comment by tmxgroupon Feb 25, 2014 6:52pm

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Post# 22250469

RE:RE:Dir.un. Breaking out soon

Earnings are out ...

Growth in adjusted funds from operations ("AFFO") since IPO of 12% per unit - During the three months ended December 31, 2013, AFFO was 19 cents per unit compared to 17 cents in the same period in the prior year. For the year ended December 31, 2013, AFFO was 74 cents per unit, an increase of 9% from the annualized Q4 2012 results.
Occupancy increases to 95.7% - The Trust completed its strongest quarter of leasing to date with 751,000 square feet completed, reflecting a tenant renewal ratio of 70%, new leasing transactions of 249,000 square feet and an increase in space committed for future occupancy of 55,000 square feet. This brings total leasing for the year to 2.1 million square feet reflecting a 70% renewal ratio.
Maintained a strong and stable capital structure - Leverage remained stable at 52.6% with interest coverage of 2.9 times and a weighted average term to maturity on debt of 4.1 years.
Continued opportunities for rent growth - Estimated market rental rates exceed in place rents by approximately 6.4%.
Completion of first full fiscal year - Since its initial public offering ("IPO") on October 4, 2012, the portfolio has grown from 6.0 million square feet to 15.7 million square feet increasing its geographic diversification and establishing its market presence and its leasing, property management and operating platforms.

Read more at https://www.stockhouse.com/news/press-releases/2014/02/25/dundee-industrial-reit-announces-solid-results-for-first-full-fiscal-year#FrkQ61khlcTJP0m8.99