Topic: How To Invest

Stock Pickers Digest Hotline – Friday, November 25, 2016

Article Excerpt

DREAM OFFICE REIT, $17.71, symbol D.UN on Toronto, owns and manages 148 properties comprising 20.8 million square feet of office and retail space in major Canadian cities. Earlier this year, Dream Office launched a three-year strategic plan to push up its unit price. Its strategy includes selling non-essential properties worth $1.2 billion in order to realize their full market value. Those buildings represent about 17% of its holdings. The trust has sold about $478 million in properties so far. It has agreements in place for another $330 million. In the three months ended September 30, 2016, Dream’s revenue fell 2.1%, to $195.7 million from $201.7 million a year earlier. The company had 148 properties at the end of the latest quarter, down from 169 a year earlier. Cash flow per share fell 4.6%, to $0.62 from $0.71. Under its three-year plan, the trust also cut its annualized distribution by 33.0%, to $1.50 from $2.24. This will lower its payout ratio to 66% of…