Dream Office Real Estate Investment Trust (T:D.UN)
Business Focus: Office REITs
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | 30 Adelaide Street East, Suite 301 TORONTO ON M5C 3H1 |
| Tel: | N/A |
| Website: | https://dream.ca/investors/office |
| 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 |
| Business Overview |
| Dream Office Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust. The Trust owns central business district office properties in various urban centers across Canada, with a focus on downtown Toronto. The Trust owns and manages 3.5 million square feet of office land in downtown Toronto. Its objectives include managing its business and assets to provide both yield and growth over the longer term. Its properties are located across Adelaide Place, Toronto; 30 Adelaide Street East, Toronto; 438 University Avenue, Toronto; 655 Bay Street, Toronto; 74 Victoria Street/137 Yonge Street, Toronto; 36 Toronto Street, Toronto; 330 Bay Street, Toronto; 20 Toronto Street/33 Victoria Street, Toronto; 250 Dundas Street West, Toronto; 80 Richmond Street West, Toronto; 425 Bloor Street East, Toronto; 212 King Street West, Toronto; 357 Bay Street, Toronto; 360 Bay Street, Toronto; 350 Bay Street, Toronto; 56 Temperance Street, Toronto; and 6 Adelaide Street East, Toronto. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Dream Office Real Estate Investment Trst revenues decreased 3% to C$190.4M. Net loss totaled C$77.2M vs. income of C$63.6M. Revenues reflect FFO per Share (Diluted) decrease of 5% to C$2.88. Net loss reflects Net Operating Income (NOI), Total decrease of 4% to C$102.3M, Share of net income and dilution gain increase from C$60.2M (income) to C$30.7M (expense). Dividend per share remained flat at C$2.00. |
| Employees: | 256 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $1,641M as of Dec 31, 2023 |
| Annual revenue (TTM): | $190.45M as of Dec 31, 2023 |
| EBITDA (TTM): | $91.64M as of Dec 31, 2023 |
| Net annual income (TTM): | -$77.20M as of Dec 31, 2023 |
| Free cash flow (TTM): | $31.66M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,326M as of Dec 31, 2023 |
| Shares outstanding: | 16,329,647 as of Apr 11, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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