INK Ultra Money: Big Toronto bullish dreams

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On Monday, we released the video summary of the INK Research morning report which highlighted Michael Cooper's bullish strategy on the Toronto office market. So far his approach is paying off for Dream Office REIT (D.UN) unit holders. Watch the YouTube version of this short video which was first published for Ultra members on Monday.

Rent steps could be a nice hike for unit holders

The REIT has continued to move higher since the beginning of the week and continues to be a strong performing member of the INK Canadian Insider Index. Don't miss another INK Ultra Money stock highlight. Join the Canadian Insider Club as an Ultra member today.

Video script:

The Greater Toronto Area accounts for 89% of
the Dream Office REIT portfolio of 6.1
million square feet of
gross leasable area by property value.
Most of that focused in downtown Toronto.
Dream Office believes that
given the city’s status as
a financial and innovation hub
plus its low vacancy rates,
rent growth should continue.
Led by Michael Cooper who
is a significant shareholder,
holding or controlling 11.1
million Series A Trust Units,
Dream Office is taking
a shrewd approach in executing its strategy.
For example, in September the REIT
acquired Six Adelaide Street East,
a 53,000 square foot
boutique office building in downtown
The property is 96.7%
occupied with in-place rents
significantly below market rents and the REIT
sees opportunities for what
it calls "rent steps."
That sounds like a hike that might be more
enjoyable for unitholders than tenants.
Over the past year, the REIT’s strategy
is paying off with funds from
operations for Q3 coming in
at $0.42 per diluted unit,
up 2 cents from a year earlier
thanks primarily to
improved financial performance
at comparative properties.
Meanwhile, its unit price is up 26% over
the past 6 months and Mr.
Cooper has been buying along the way.
That helps to give this
INK Canadian Insider member
a sunny outlook placing it in the top
10% of all stocks ranked.
Our report which is not a recommendation
to buy or sell securities is
available through INKResearch.com or
the Canadian Insider Club.
Good luck, friends, and thanks for listening!

As a reminder, INK Research does not accept payments from issuers or their promoters for stock coverage.

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