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Dream Office Real Estate Investment Trust (T:D.UN)

Business Focus: Office REITs

Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 30 Adelaide St E Suite 301
Tel: N/A
IR: See website
Key People
Michael J. Cooper
Chairman of the Board of Trustees, Chief Executive Officer
Jay Jiang
Chief Financial Officer
Gordon Wadley
Chief Operating Officer
Andrew Reial
Senior Vice President - Portfolio Management
Business Overview
Dream Office Real Estate Investment Trust (the Trust) is a Canada-based open-ended real estate investment trust. The Company is focused on owning, leasing and managing office properties in urban centers across Canada, with a focus on downtown Toronto. Its segments include Toronto downtown, Mississauga and North York, and Other markets. It has a portfolio of approximately 30 properties with a total gross leasable area (GLA) of 5.3 million square feet. The Trust is managed by Dream Asset Management Corporation (DAM).
Financial Overview
For the three months ended 31 March 2020, Dream Office Real Estate Investment Trst revenues decreased 8% to C$52.7M. Net income before extraordinary items increased from C$11M to C$64.8M. Revenues reflect FFO per Share (Diluted) decrease of 9% to C$0.39. Net income reflects Fair Value Adjustment to Financial decrease from C$15.4M (expense) to C$45.3M (income). Dividend per share remained flat at C$0.25.
Employees: 235 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $2,126M as of Mar 31, 2020
Annual revenue (TTM): $224.20M as of Mar 31, 2020
EBITDA (TTM): $113.47M as of Mar 31, 2020
Net annual income (TTM): $179.74M as of Mar 31, 2020
Free cash flow (TTM): $1.54M as of Mar 31, 2020
Net Debt Last Fiscal Year: $1,090M as of Mar 31, 2020
Shares outstanding: 55,615,660 as of Apr 30, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization