Dream Office Real Estate Investment Trust T.D.UN

Alternate Symbol(s): DRETF

Real Estate REIT - Office

Dream Office Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust. The Trust owns central business district office properties in various urban centers across Canada, with a focus on downtown Toronto. The Trust owns and manages 3.5 million square feet of office land in downtown Toronto. Its objectives include managing its business and assets to provide both yield and growth over the longer term. Its properties are located across Adelaide Place, Toronto; 30 Adelaide Street East, Toronto; 438 University Avenue, Toronto; 655 Bay Street, Toronto; 74 Victoria Street/137 Yonge Street, Toronto; 36 Toronto Street, Toronto; 330 Bay Street, Toronto; 20 Toronto Street/33 Victoria Street, Toronto; 250 Dundas Street West, Toronto; 80 Richmond Street West, Toronto; 425 Bloor Street East, Toronto; 212 King Street West, Toronto; 357 Bay Street, Toronto; 360 Bay Street, Toronto; 350 Bay Street, Toronto; 56 Temperance Street, Toronto; and 6 Adelaide Street East, Toronto.

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Dream Office Real Estate Investment Trust > Distribution

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Comment by ThisIsYerChanceon Sep 10, 2023 12:15am

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Post# 35628055

RE:Distribution

Maybe the sooner the better. Offices are becoming obsolete, so as the saying goes, "this is yer chance"...

SNAKEYBOY wrote: As I said before, if a distribution cut is being considered they probably should go the route of "strategic alternatives" and just put the entire REIT up for sale or sell all the assets off peacemeal and see if you can come out with $15 - 24 obviously the ranges being worst-case and best-case scenario.

A dividend cut 30-50% distribution cut would put the yield to 4-6% and is not satisfactory in this environment for a pure office REIT. Unit price would likely go to $8ish and languish for years.

A dividend cut would need to then be supported with a much healthier balance sheet as Matt pointed out and running an aggressive NCIB and perhaps having excess cash so the shorts are weary of another small SIB.

Look at TNT and SOT. If D meets that fate Cooper needs to go!