Bullboard - Stock Discussion Forum Dream Office Real Estate Investment Trust T.D.UN

Alternate Symbol(s): DRETF

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... see more

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TSX:D.UN - Post Discussion

Dream Office Real Estate Investment Trust > Buying

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Post by Frankie10 on Feb 13, 2024 10:05am

Buying

Bought back some units at $9.40, which I had dumped above $10 to help manage margin/leverage at the time.

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Comment by Catchtherally on Feb 13, 2024 12:48pm

I'm concerned they finally cut the divy on this one too.

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Comment by Frankie10 on Feb 13, 2024 1:57pm

The time to cut the distribution would have been when all the renovations were commissioned - not on the eve of their completion as new leases are signed, and additional NOI is about to start flowing in. Management has been transparent that development partners will be used to access additional capital for development and we will contribute the investment property. Therefore, the rationale to cut ...more

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Comment by EstevanOutsider on Feb 13, 2024 2:07pm

i would think the same. a cut tomorrow for the sake of cutting would be a surprise. while they noted on the CC a couple quarters ago the market perecived the distribution as being "too high" they also noted the market was valuing the reit at $200 psf and said it wasn't working properly to value dream office. to me that implies the likely continued buyback program or a sib. they also ...more

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