Dream Office REIT is betting on Toronto with the Greater Toronto Area now accounting for about 89 per cent of the REIT’s properties by value. Lately, the strategy has been paying off. Third-quarter comparative properties net operating income was $33.8-million, up from $30.5-million during the same quarter in 2018 and units are up more than 25 per cent over the past six months. Meanwhile, during the past 90 days, CEO Michael Cooper spent $3.36-million buying units in the market. Generally, seeing that type of buying as a stock rallies is an encouraging sign.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon