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 > FFO 0.35

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Post by SNAKEYBOYon Sep 10, 2023 9:32am

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Post# 35628147

FFO 0.35

SIB was supposed to move FFO to 0.40 post SIB and completed renovations and lease ups were supposed to improve it a bit more. Dividend is 0.25. It seems like capital expenditures should not be running significantly in this environment such that the affo is over 100% for long.

Dividend payout is 9m/ quarter, 36m annually and DIR liquidity is 170m.

Realistically even cutting by half preserves only 18m a year while there's 850m in value supposedly not recognized in unit price of their fake 34 nav.

Best thing for this reit is monetize 2 to 4 more assets and DIR, DEBT AND AGGRESSIVE BUYBACKS.

OR LOOK for partner and put in a privatization bid for 15ish

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