Investors can expect to see this REIT’s first batch of fiscal 2023 earnings in the first week of May. In Q4 2022, this REIT posted a net loss of $82.6 million. Meanwhile, diluted funds from operations (FFO) per unit fell to $0.37 compared to $0.40 in the previous year. Dream Office REIT suffered a dip due to higher interest expenses and a recovering macro environment as commercial properties emptied during the COVID-19 pandemic.
For the full year, this REIT delivered adjusted EBITDAFV of $127 million – down from $128 million for the full year in fiscal 2021. Meanwhile, net income nearly halved to $63.6 million in fiscal 2022. For its business update, Dream Office reiterated that its tenants have wrestled with a challenging macro environment. Indeed, the full impact of the COVID-19 pandemic, supply chain disruptions, geopolitical conflicts, and other factors has yet to be determined.
Shares of this REIT currently possess a favourable price-to-earnings ratio of 10. Meanwhile, this REIT offers a monthly distribution of $0.083 per share. That represents a very tasty 7.5% yield.