Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, February 26, 2016

Article Excerpt

DREAM OFFICE REIT, $19.85, symbol D.UN on Toronto, owns and manages 166 properties comprising 23.0 million square feet of office and retail space in major Canadian cities. In the three months ended December 31, 2015, Dream Office’s revenue fell 4.4%, to $196.2 million from $205.2 million a year earlier. The trust’s cash flow gained 3.4%, to $70.9 million from $68.6 million, while cash flow per unit fell 1.6% to $0.62 from $0.63 on more units outstanding. Dream is up more than 21% over the last week since it announced a three-year strategic plan to push up its unit price. The trust will sell non-essential properties worth $1.2 billion to realize their full market value. These properties represent about 17% of its holdings. It will use some of the proceeds to pay down debt, and possibly to buy back units. The trust will also cut its annualized distribution by 33.0%, to $1.50 from $2.24. This will lower its payout ratio to 67% of forecast…