Dream Impact 5 50 Convertible Unsecured Subordinated Debentures T.MPCT.DB

4th Quarter Results

[fishowl]

Click on the following link for PDF of results.

https://www.dream.ca/alternatives/wp-content/uploads/sites/6/2020/02/DAT-Q4-19-Press-Release-final.pdf

Here's fininacial highlights from the report. Net Income per share is up, Equity per share is up, NAV is update. Looks like a good quarter.

Selected financial and operating metrics for the three months and year ended December 31, 2019 are summarized below:

	Three months ended December 31,							Year-ended December 31,
	2019			2018				2019			2018
Consolidated results of operations
Net income	$	19,923		$	6,995			$	32,331		$	13,902
Net income from continuing operations	24,133			7,293				27,977			10,865
Net operating income ("NOI")(2)	5,372			8,092				38,915			28,717
Cash generated from operating activities from continuing operations	3,062			7				28,597			7,609
Net income per unit(2)	0.29			0.10				0.47			0.19
Net income per unit from continuing operations(2)	0.35			0.10				0.41			0.15
Cash generated from operating activities from continuing operations per unit(2)	0.04			—				0.42			0.10
Distributions declared and paid per unit	0.10			0.10				0.40			0.40
Units outstanding – end of period	68,763,987			72,592,822				68,763,987			72,592,822
Units outstanding – weighted average	68,581,227			72,437,648				66,690,503			72,361,187

The table below provides a summary of the Trust's portfolio as at December 31, 2019, including total unitholders' equity and NAV⁽²⁾:

As at December 31, 2019	Total unitholders' equity			NAV(2)
Development and investment holdings, including equity accounted investments	$	292,447		$	332,853
Lending portfolio	64,705			64,705
Income properties	111,175			111,175
Other, including tax(3)	99,224			92,859
Total unitholders' equity / NAV(2)	$	567,551		$	601,592
Total unitholders' equity / NAV per unit(2)	$	8.25		$	8.75