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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

Post by Longvalueon Aug 11, 2016 9:50am
209 Views
Post# 25130228

Optimism ?

Optimism ?I don't understand the optimism from some of you, unless you bought ~ $ 15/unit. Dream has been awful for the past while. When you invest in a REIT, you expect a solid dividend a slow but steady share price increases. Dream has been nothing of the sort. If you look at the 3 year chart, its incredibly ugly. From ~ $ 40 in spring 2013, to less than half today. Furthermore, the dividend has been cut, and you have to be deluded to think the dividend is "safe" from further action. But, the worst thing is that management has no credibility. Everyone suspected the portfolio was nowhere close to NAV, but to have such a huge writedown mere months after boasting of your NAV and your efforts to close the discount is disingenuous. I will still hold, and collect whatever dividend there is, but I think some of you are far too rosy. I hope this is the "kitchen sink" approach, but something tells me that occupancy and FFO will be worse than most anticipate.
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