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 closed-end real estate investment trust (REIT) formed to own income-producing commercial properties primarily located in Canada. The Company's portfolio is comprised of over 370 properties totaling approximately 30 million square feet of gross leasable area (GLA), consisting primarily of net lease retail properties located across Canada. It leases REITs and creates long-term value for Unitholders by growing its portfolio of income-producing properties and development projects, benefiting from its relationship with Canadian Tire Corporation, tenant and controlling Unitholder. Its portfolio includes various property types, such as Canadian tire single tenant properties, multi-tenant properties anchored by Canadian tire store, multi-tenant properties not anchored by Canadian tire store, industrial properties, and mixed-use property. Its tenants include save-on-foods/buy-low foods, and lob laws/shoppers drug mart/no frills and bank of Montreal. |
| Financial Overview |
| For the nine months ended 30 September 2023, CT Real Estate Investment Trust revenues increased 4% to C$412.8M. Net income decreased 23% to C$87.7M. Revenues reflect FFO per Share (Basic) increase of 4% to C$0.33, FFO per Share (Diluted) increase of 4% to C$0.33, Base rent increase of 3% to C$315.3M, Capital expenditure and interest recover increase of 44% to C$15.3M. |
| Employees: | 59 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $4,364M as of Sep 30, 2023 |
| Annual revenue (TTM): | $547.98M as of Sep 30, 2023 |
| EBITDA (TTM): | $418.33M as of Sep 30, 2023 |
| Net annual income (TTM): | $121.93M as of Sep 30, 2023 |
| Free cash flow (TTM): | $354.94M as of Sep 30, 2023 |
| Net Debt Last Fiscal Year: | $2,937M as of Sep 30, 2023 |
| Shares outstanding: | 235,401,425 as of Nov 21, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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