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Crombie Real Estate Investment Trust (T:CRR.UN)

Business Focus: Retail REITs

Sector:  Real Estate Industry:  Commercial REITs
 
Company Contact
Address: 610 East River Rd Suite 200
NEW GLASGOW NS B2H 3S2
Tel: 1-902-7590164
Website: https://www.crombie.ca
IR: See website
Key People
Mark Holly
President, Chief Executive Officer, Trustee
Clinton D. Keay
Chief Financial Officer, Secretary
John Barnoski
Executive Vice President - Corporate Development
Arie Bitton
Executive Vice President - Leasing and Operations
Trevor Lee
Executive Vice President - Development and Construction
Cheryl Ann Fraser
Chief Talent Officer, Vice President - Communications
Fred Santini
General Counsel
   
Business Overview
Crombie Real Estate Investment Trust is a Canada-based open-ended real estate investment trust. The principal business of the Company is investing in income-producing retail, retail-related industrial, mixed-use, and office properties in Canada. Its portfolio primarily includes grocery-anchored retail, retail-related industrial, and mixed-used residential properties in Canada's urban and suburban markets. Its portfolio includes 294 properties comprising approximately 18.7 million square feet. The Company's properties include 1809 Barrington; Aberdeen Business Centre; Acadia Avenue; Amherst Centre; Amherst Plaza; Antigonish Sobeys; Blink Bonnie Plaza; Brunswick Place; Causeway Shopping Centre Sobeys; Cogswell Tower; County Fair Mall; Dartmouth Crossing Cineplex Cinemas; Downsview Mall and Downsview Plaza; Duke Tower; Elmsdale Shopping Centre; Fall River Plaza; Forest Hills; New Waterford, Plummer Ave; New Waterford, Emerald Street, and others.
Financial Overview
For the fiscal year ended 31 December 2023, Crombie Real Estate Investment Trust revenues increased 4% to C$444.4M. Net loss totaled C$59.3M vs. income of C$12.3M. Revenues reflect FFO per Share (Basic) increase of 1% to C$1.17, Rental revenue contractually due from te increase of 2% to C$388.6M, Common area cost recoveries increase of 11% to C$62.9M. Net loss reflects Gain on Investment Property decrease of 99% to C$588K (income).
Employees: 294 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $3,687M as of Dec 31, 2023
Annual revenue (TTM): $444.37M as of Dec 31, 2023
EBITDA (TTM): $263.20M as of Dec 31, 2023
Net annual income (TTM): -$59.28M as of Dec 31, 2023
Free cash flow (TTM): $105.29M as of Dec 31, 2023
Net Debt Last Fiscal Year: $2,187M as of Dec 31, 2023
Shares outstanding: 181,362,709 as of Mar 13, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization