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Dream Office Real Estate Investment Trust T.D.UN

Alternate Symbol(s):  DRETF

Dream Office Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust. The Trust owns central business district office properties in various urban centers across Canada, with a focus on downtown Toronto. The Trust owns and manages 3.5 million square feet of office land in downtown Toronto. Its objectives include managing its business and assets to provide both yield and growth over the longer term. Its properties are located across Adelaide Place, Toronto; 30 Adelaide Street East, Toronto; 438 University Avenue, Toronto; 655 Bay Street, Toronto; 74 Victoria Street/137 Yonge Street, Toronto; 36 Toronto Street, Toronto; 330 Bay Street, Toronto; 20 Toronto Street/33 Victoria Street, Toronto; 250 Dundas Street West, Toronto; 80 Richmond Street West, Toronto; 425 Bloor Street East, Toronto; 212 King Street West, Toronto; 357 Bay Street, Toronto; 360 Bay Street, Toronto; 350 Bay Street, Toronto; 56 Temperance Street, Toronto; and 6 Adelaide Street East, Toronto.


TSX:D.UN - Post by User

Comment by Longvalueon Aug 10, 2016 7:47pm
151 Views
Post# 25128716

RE:Decent earnings

RE:Decent earningsI think you're missing the bigger picture. Management has stressed the units are trading below NAV and their goal was to close that gap. Writing down the assets by such a huge amount is not what everyone had in mind. It goes to credibility, or lack thereof. As for potential buybacks, did you take a look at the debt metrics, net debt total debt to gross book value went up 5 % AFTER aggressively paying down debt. I don't know about their agreement with their lenders, but I suspect they have redirected money for share buybacks to debt repayment to remain within their covenants. I am very long and I hope its smoother here on out, but I get the sinking feeling this is not the last of the negative news.
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