These high-yield trusts also offer growth

Article Excerpt

DREAM OFFICE REIT $23.66 (Toronto symbol D.UN; TSINetwork Rating: Extra Risk) (416-365-3535; www.dream.ca/office; Units o/s: 60.1 million; Market cap: $1.6 billion; Dividend yield: 4.2%) owns and manages 42 office and retail properties in major Canadian cities. Altogether, they comprise 7.8 million square feet of leaseable space. In early 2016, the REIT began a three-year strategic plan to raise its unit price. That strategy includes selling non-essential properties in order to realize their full market value. As part of its plan, Dream has now sold roughly $3.2 billion in properties. It used most of the proceeds to pay down its high-interest debt. It also recently repurchased 10.0 million units, or 14.3% of the outstanding, for $240.0 million. In the three months ended March 31, 2018, overall revenue fell 47.4%, to $80.7 million from $153.3 million a year earlier. Cash flow per share fell 22.0%, to $0.46 from $0.59. The declines reflect the sale of properties, down to 41 by the end of the latest quarter from…

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