Dream Office Real Estate Investment Trust T.D.UN

Great option for artis and dream

[SNAKEYBOY]

Retire what is ever left of manjis & artis 5 million shares by giving him a building that they agreed upon.  Artis can turn around and sell it for FMV getting its principal investment back.  Dream cancels the 5 million shares effectively at a discount.  They'd have to transact as if the shares were worth around 20 dollars to benefit both parties.

[matt2018]

Maybe we should all vote our collective shares and get Snake on the board. At the very least, he could make things interesting!

[jmkOttawa]

It would be a disaster

[matt2018]

jmkOttawa..... just trying to keep it light in a difficult time but if you want a defintion of  a "disaster", I can give you one.

[jmkOttawa]

Sorry Matt, I sometimes take these posts a little too seriously. I am as bummed as everyone to see the unit prices so deeply depressed. The fix is father time... The high interest rates will crush many indebted individuals and businesses,  and at some point the CPI numbers will lower, the employment will fall, and interest rates will come down. Would love to have the crystal ball on this one!

[matt2018]

no worries jmk..... history has shown, high quality real estate values have always come back and gone higher. I never was in favor of the SIB.  Does not add value to share price going forward. Nothing to build on. Takes money out of the company at a time when you need it most. Protecting/growing the distribution should be priority. Could have allocated 50% to debt reduction, other 50

[SNAKEYBOY]

You contradict yourself by saying SIB did nothing for share price.  Net asset value per share is bumped and and payout ratio improves. Just because of math.  Assuming their NAV is accurate it added100 million by canceling shares. Like the ncib is doing

[matt2018]

Snake, how am I contradicting myself?  Share price is over $3 lower than the SIB price. How did the $194M to execute the SIB improve the share price? Does not matter what you or Dream say the NAV is. Its what the market says that counts. Unless you want to buy my shares for NAV less 25%

[SNAKEYBOY]

The SIB was not simply a disbursement to shareholders. You said they save the dividend... true.  also their net income is divided by less shares.  Should improve ffo per share and NAV due to fewer shares.  Same way a NCIB does.  Yes it didn't improve unit price immediately but it can as Financials reflect new numbers and NAV is also larger assuming it was at minimum higher