RE:10x AFFO at 15.5Like you said SNAKEYBOY - Dream Office is not cheap using traditional metrics and with the sale of half its Dream Industrial units, it now has undeniably inferior asset quality to H&R.
One thing Dream Office has going for it is the very small public float. H&R's 2023 NCIB allows them to buy 26 million units per year versus 3.3 million for Dream Office in comparison to show how much smaller the public float is viewed as being on Dream Office.
It would probably be prudent for me to equal weight my Dream Office and H&R positions however I still haven't made up my mind if I want to sell any of my Dream Office. It is very hard to argue with the value of H&R.
SNAKEYBOY wrote: New affo post sib will be 1.65 give or take. So the way I see it if HR for example goes under 10 and trades at 9x I don't see why d.un won't go back down. What D does have going for it is the buyout potential. But not cheap at 15.5 compared to the 10x affo multiple given to many reits right now