RE:RE:RE:RE:RE:RE:RE:DREAM OFFICE NEEDS TO DO THISI completely agree with your entire post Matt. You're right - page 23 of the Dream Office 2022 Annual Report lists debt as $250.7 million due in 2023. There is only $73.4 million due in 2024 so if we can get through 2023, we should be good until 2025 when hopefully lenders will be more inclined to lend.
matt2018 wrote: Year to date, DIR is up 25%, D.UN is down 12%. Perhaps you take some DIR off the table (25%) and apply towards the debt. Don't they have 2 to $300M of current debt coming due? (please correct me if wrong). Buybacks are good if there is free cash from operations (after paying the Div).
We have seen from some of the other office reits, cutting the div is a disaster for the share price.
Many investors bail immediately and valuation gets hit hard.
I'm nibbling down here as these are great assets and this current cycle will change eventually and most employees will head back to the office to work.
You cant always be productive or look professional working from home.
If we can avoid recession, the great locations with renovated updated buildings will be in demand and receive the higher rents.