Dream Industrial Real Estate Investment Trust T.DIR.UN

RE:RE:RE:RE:RE:Another new issue....this one at $16.50

[maypeters]

Take a look at Tricon Residential (TCN) - second largest holding I have. Matter of time before Blackstone strikes (couple of years). With the shares trading on NYSE from Oct 7 I think we should see a re-rating based on US peers. 

SargeX wrote: Hey May

Always nice to hear from you. I also replied to your recent PM.

As I just mentioned to CSC, the Europe move was brilliant.

We also hold GRT and had WPT as well. We are now actually down to only 3 REITs - DIR, GRT, and NWH.  I had looked at SMU but yield was a little too low for what we like. I think we'll just stick with the 3 from now on.

All th best with that good looking portfolio of yours and take care
    Sarge

maypeters wrote: Hi Sarge

Hope all is good. 

Since they first ventured into Europe last year they have done around $3B in purchase significantly upgrading the portfolio. As you mentioned, they have been on a tear. 

I remember the industrial buildings they used to own long time back and what they have now. Massive upgrade as the current holdings are well geared for e-commerce needs
The cap rates are pretty decent with some additional builds available on existing land. 

I am holding 10K+ shares and participating in the DRIP. Also have SMU and GRT in the industrial space. Had WPT but that has been swallowed up. I would think SMU gets taken out next. 

I have taken position in Dream Unlimited also as they benefit based on the management fee - equity raises and acquisitions/dispositions from Dream Industrial and other
Dream companies. 


Best wishes. 

SargeX wrote: Hey CSC

How she go these days?

DIR is definitely an interesitng REIT. On the one hand, I'm not sure what to make of all this dilution. From my research, this is the 5th money raising event of 2021 - Jan 20 - $259M bought deal, Apr 15 - $201M bought deal, May 20 - $287M subscription receipts, Jun 10 - $800M debenture offering, Oct 13 - $250M bought deal.
 
This sort of seems troublesome but on the other hand, they always seem to put the dough to good use. Also, the share price seems to bounce back really quickly. It's even more interesitng on this as the stock price was $16.50 on Tues so it's like this offering didn't even cause a drop.

I guess the bottom line is that DIR has done incredibly well so they have earned my trust and they sure look like they know what they're doing.  :-)

Take her easy
  Sarge