I think the market will be unimpressed with todayI don't epect a big drop, but I think the market will be blah on todays results -
CAR.UN had a much more impressive quarter and still got pooped on.
The market is absolutely convinced that the supply expansion in office properties in some of D.UN's core markets especially in 2015/16/17 is going to hurt them. Most tenants think so too. Leases signed over the past year in these markets have all been short leases, 2-4 years, designed specifically to be up for renewal exactly as the new supply comes to market - so tenants are thinking that rents are going to take a hit as well. And I'm sure its all an over reaction - Dundee will be able to sustain their dividend without much issue I think.
Also, Brookfield is building a huge office tower in Calgary, and they are the smartest guys around, so thats not a bad sign.