Earnings
June 19, 2021 - CNQ
New! Canadian Natural Resources Ltd, Q1-2021 Earnings, Price Target Update .....
June 17, 2021 - BDT
Bird Construction Inc. Q1-2021 Earnings, Price Target Update .....
June 15, 2021 - ACO.X
Atco Ltd - Q1-2021 Earnings, Price Target .....
June 15, 2021 - TOU
Tourmaline Oil Corp. Q1-2021 Earnings, Price Target Update .....
June 13, 2021 - MRT.UN
Morguard REIT- Q1-2021 Earnings, Price Target Update .....
June 12, 2021 - FSZ
Fiera Capital Corp, Q1-2021 Earnings, Price Target Update .....
June 11, 2021 - DIR.UN
Dream Industrial REIT - Q1-2021 Earnings, Price Target Update .....
June 10, 2021 - D.UN
Dream Office REIT - Q1-2021 Earnings, Price Target Update .....
Recommendation Changes
NTR, CM, RY, BMO, TNT.UN, more...

Dream Office REIT - Q1-2021 Earnings, Price Target Update

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Dream Office REIT (D.UN) ownership interests include (Mar-31-2021) 5.5M sq. ft. across 28 properties, and two properties under development budgeted at $107M to complete. Assets of $2.9B include a 12.9% interest in Dream Industrial REIT (DIR.UN) carried at $342M. This compares to(Dec-31-2017) at 42 office properties (8.2M sq. ft.), four properties held for sale (0.4M sq. ft.) and two redevelopment properties. Toronto downtown properties comprise 66% of leasable area, Calgary – 22%, GTA- 8%, Ottawa/Montreal – 14%

Total value of assets as of Jun-30-2020 was $2.9M compared to $5.7M as of Dec-31-2016. They had originally set out to sell $1.2B of non-core assets over three years. As of Dec-31-2017 they substantially completed the disposition program, selling $3.3B of assets since the beginning of 2016, leaving a portfolio of assets with a focus in downtown Toronto. The proceeds have been deployed along with the savings from dividend reductions to repurchase units, and reduce debt.

Capital Recycling Strategy

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