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Automotive Properties Real Estate Investment Trust (T:APR.UN)

Business Focus: Commercial REITs

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Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 133 King St E Suite 300
Tel: N/A
IR: See website
Key People
Kapil Dilawri
Chairman of the Board
Milton Lamb
President, Chief Executive Officer
Andrew Kalra
Chief Financial Officer
Business Overview
Automotive Properties Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The objectives of the REIT are to provide Unitholders with stable, predictable and growing monthly cash distributions on a tax-efficient basis; enhance the value of the REIT's assets in order to maximize long-term Unitholder value, and expand the REIT's asset base while also increasing its Adjusted Funds From Operations (AFFO) per Unit, including through accretive acquisitions. Its portfolio consists of approximately 30 properties, including over 25 Initial Properties and the Toyota Woodland property, the Porsche JLR Edmonton property and the Audi Barrie property. The properties encompass approximately 1,077,810 square feet of gross leasable area (GLA). Its properties contain over 40 automotive dealership facilities and an automotive repair facility, occupying over 40 individual buildings, as well as over four ancillary retail buildings.
Financial Overview
For the three months ended 31 March 2019, Automotive Properties Real Est Invt TR revenues increased 39% to C$15.7M. Net loss totaled C$17.9M vs. income of C$14.5M. Revenues reflect FFO per Share (Basic) increase of 6% to C$0.27, FFO per Share (Diluted) increase of 6% to C$0.27, Rental revenue from investment propertie increase of 39% to C$13.6M, Property tax recoveries increase of 37% to C$2.1M.
Reporting Currency: Canadian Dollars
Enterprise value: $731.53M as of Mar 31, 2019
Annual revenue (TTM): $52.63M as of Mar 31, 2019
EBITDA (TTM): $41.62M as of Mar 31, 2019
Net annual income (TTM): $6.78M as of Mar 31, 2019
Free cash flow (TTM): $17.69M as of Mar 31, 2019
Net Debt Last Fiscal Year: $447.09M as of Mar 31, 2019
Shares outstanding: 29,796,552 as of Jun 28, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization