CT Real Estate Investment Trust (T:CRT.UN)
Business Focus: Retail REITs
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | 2180 Yonge Street, Stn K PO Box 770 TORONTO ON M4P 2V8 |
| Tel: | N/A |
| Website: | https://www.ctreit.com |
| IR: | See website |
| Key People | ||
| Kevin Mark Salsberg President, Chief Executive Officer, Trustee | Lesley Patricia Gibson Chief Financial Officer | Jodi Shpigel Senior Vice President - Real Estate |
| Business Overview |
| CT Real Estate Investment Trust is a Canada-based unincorporated, closed-end real estate investment trust (REIT) formed to own income-producing commercial properties located primarily in Canada. The Company's principal objective is to invest primarily in net lease, single tenant assets, is to create unitholder value over the long-term by generating reliable, durable and growing monthly distributions on a tax-efficient basis. To achieve this objective, management is focused on expanding the REIT's asset base while also increasing its adjusted funds from operations (AFFO) per unit. Its portfolio is comprised of over 370 properties totaling approximately 30 million square feet of gross leasable area, consisting primarily of net lease single-tenant retail properties located across Canada. Its property types include development, industrial, mixed use, multi-tenant and single tenant. Its properties are located in various regions, such as Western Canada, Atlantic Canada, Ontario and Quebec. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, CT Real Estate Investment Trust revenues increased 4% to C$552.8M. Net income decreased 29% to C$105.3M. Revenues reflect FFO per Share (Basic) increase of 3% to C$1.31, FFO per Share (Diluted) increase of 3% to C$1.31, Base rent increase of 3% to C$422.8M, Capital expenditure and interest recover increase of 38% to C$20.3M. |
| Employees: | 68 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $4,437M as of Dec 31, 2023 |
| Annual revenue (TTM): | $552.77M as of Dec 31, 2023 |
| EBITDA (TTM): | $422.01M as of Dec 31, 2023 |
| Net annual income (TTM): | $105.29M as of Dec 31, 2023 |
| Free cash flow (TTM): | $348.26M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $2,961M as of Dec 31, 2023 |
| Shares outstanding: | 235,642,470 as of Apr 17, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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