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BTB Real Estate Investment Trust (T:BTB.UN)

Business Focus: Commercial REITs (NEC)

Sector:  Real Estate Industry:  Commercial REITs
 
Company Contact
Address: 300-1411 rue Crescent
MONTREAL QC H3G 2B3
Tel: 1-514-2860188
Website: https://www.btbreit.com
IR: See website
Key People
Michel Leonard
President, Chief Executive Officer, Trustee
Mathieu Bolte
Chief Financial Officer, Chief Operating Officer, Executive Vice President
 
Business Overview
BTB Real Estate Investment Trust (the Trust) is a Canada-based real estate investment trust (REIT). The Trust's primary objective is to maximize total return to unitholders, to generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders, to grow the Trust's assets through internal growth and accretive acquisitions, and optimize the value of its assets through dynamic management of its properties to maximize their long-term value. The Trust invests in industrial, off-downtown core office and necessity-based commercial properties across Canada for the benefit of its investors. The Trust owns and manages approximately 75 properties, representing a total leasable area of approximately 6.1 million square feet. The Trust operates through three segments, which include Industrial, Off downtown core office and Necessity-based retail. The Trust's operations are located in the provinces of Quebec, Ontario, Alberta and Saskatchewan.
Financial Overview
For the fiscal year ended 31 December 2023, BTB Real Estate Investment Trust revenues increased 7% to C$127.8M. Net income decreased 4% to C$36.6M. Revenues reflect Industrial segment increase of 43% to C$32.7M, Retail segment increase of 5% to C$29.2M, FFO per Share (Basic) increase of 3% to C$0.45. Net income was offset by Office segment income decrease of 7% to C$34.2M, Net Operating Income (NOI) Office decrease of 7% to C$34.2M.
Employees: 81 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $998.05M as of Dec 31, 2023
Annual revenue (TTM): $127.83M as of Dec 31, 2023
EBITDA (TTM): $75.48M as of Dec 31, 2023
Net annual income (TTM): $36.60M as of Dec 31, 2023
Free cash flow (TTM): $48.51M as of Dec 31, 2023
Net Debt Last Fiscal Year: $723.32M as of Dec 31, 2023
Shares outstanding: 86,940,067 as of Feb 16, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization