TSE:D.UN
Dream Office REIT (D.UN-T)
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Apr 16, 2025, 12:00 amThis summary was created by AI, based on 1 opinions in the last 12 months.
Dream Office REIT (D.UN-T) is facing a challenging environment in the office sector, particularly in Toronto. Experts have pointed out that the company's portfolio consists of B-team assets, indicating that they may not be of the highest quality or attractiveness to potential tenants. Significant efforts are required in terms of leasing and overall asset management to turn around the current situation. Additionally, for investors to consider placing capital in Dream Office REIT, there needs to be a favorable outlook on both the Toronto office market and the company's ability to manage and utilize its assets effectively. Currently, many experts express skepticism regarding the investment potential in the Toronto office environment, leading to cautious consideration of Dream Office REIT's prospects.
It has been a tough environment for REITs in general, although industrial REITs have been holding up better than the rest. DIR.UN has a strong free cash flow yield, it offers a distribution yield of 5.4%, and has a high occupancy rate of 96%. Its FFO/debt ratio has been climbing over the years, signalling its funds from operations have been growing relative to its debt load. We would be comfortable buying DIR.UN for a long-term hold.
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Investors really do not like commercial office companies right now. D.UN has an 80% in-place occupancy rate, down from year end (0.8%) and down 1.5% from last year's comparable quarter. It is priced well, but there are risks here, and its small size adds risk as well. We would see it as a higher-risk hold.
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In very different sectors. Both trade at wide discount to NAV. Neither has catalysts on horizon. CSH.UN at risk of cutting distribution, which is not being covered due to lower occupancy. CSH trustees see growth coming, but can it recover occupancy levels lost during Covid? He's watching that, as it's hard to invest in the face of a possible cut. D.UN is in an extremely tough sector. Office space, globally, has suffered with work from home. Office sector is not dead, but vacancy rates are in high teens and climbing. A good operator, Dream still owns good office buildings, especially in Toronto.
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Dream Office REIT(D.UN-T) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 0
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 1
Total Signals / Votes : 1
Dream Office REIT(D.UN-T) Frequently Asked Questions
What is Dream Office REIT stock symbol?
Dream Office REIT is a Canadian stock, trading under the symbol D.UN-T on the Toronto Stock Exchange (D.UN-CT). It is usually referred to as TSX:D.UN or D.UN-T
Is Dream Office REIT a buy or a sell?
In the last year, 1 stock analyst published opinions about D.UN-T. 0 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Dream Office REIT.
Is Dream Office REIT a good investment or a top pick?
Dream Office REIT was recommended as a Top Pick by on . Read the latest stock experts ratings for Dream Office REIT.
Why is Dream Office REIT stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Dream Office REIT worth watching?
1 stock analyst on Stockchase covered Dream Office REIT In the last year. It is a trending stock that is worth watching.
What is Dream Office REIT stock price?
On 2025-07-18, Dream Office REIT (D.UN-T) stock closed at a price of $16.74.
Office environment continues to be challenging. B-team assets. Lots of work needs to be done on leasing. To invest, you have to be positive on the Toronto office environment, these assets, use of capital, and these operators. He's not there yet for Toronto.