RE:Dream Office: A Dividend Cut Is Necessary To Preserve Value Normal course of business would suggest capex will decline as renovations are completed and space is leased - increasing occupancy and FFO, as capex decreases to only maintenance capex.
Most recent earnings suggest we are on track to achieve this.
Debt, as the article alludes, is a non-issue until 2025...
That said, DRM and Cooper will do what is best for themselves. A distribution cut would financially strengthen the REIT, while tanking the unit price and providing a great opertunity for DRM to buyback Dream Office.
I don't put anything past Mangement, which is why I own this based on valuation and the quality of theunderlying assets, rather than for cashflow/distribution or faith in Management.