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% ofthe Dream Office REIT portfolio of 6.1million square feet ofgross leasable area by property value.Most of that focused in downtown Toronto.Dream Office believes thatgiven the city's status asa financial and innovation hubplus its low vacancy rates,rent growth should continue.Led by Michael Cooper whois a significant shareholder,holding or controlling 11.1million Series A Trust Units,Dream Office is takinga shrewd approach in executing its strategy.For example, in September the REITacquired Six Adelaide Street East,a 53,000 square footboutique office building in downtownThe property is 96.7%occupied with in-place rentssignificantly below market rents and the REITsees opportunities for whatit calls "rent steps."That sounds like a hike that might be moreenjoyable for unitholders than tenants.Over the past year, the REIT's strategyis paying off with funds fromoperations for Q3 coming inat $0.42 per diluted unit,up 2 cents from a year earlierthanks primarily toimproved financial performanceat comparative properties.Meanwhile, its unit price is up 26% overthe past 6 months and Mr.Cooper has been buying along the way.That helps to give thisINK Canadian Insider membera sunny outlook placing it in the top10% of all stocks ranked.Our report which is not a recommendationto buy or sell securities isavailable through INKResearch.com orthe 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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