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 living area (GLA), consisting primarily of net lease 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 nine months ended 30 September 2024, CT Real Estate Investment Trust revenues increased 5% to C$433.3M. Net income increased 57% to C$137.5M. Revenues reflect Retail investment properties segment increase of 57% to C$433.3M, Canada segment increase of 57% to C$433.3M, FFO per Share (Basic) increase of 2% to C$0.33, FFO per Share (Diluted) increase of 2% to C$0.33. Net income benefited from Net Operating Income (NOI). |
| Employees: | 68 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $4,610M as of Sep 30, 2024 |
| Annual revenue (TTM): | $573.22M as of Sep 30, 2024 |
| EBITDA (TTM): | $432.16M as of Sep 30, 2024 |
| Net annual income (TTM): | $155.05M as of Sep 30, 2024 |
| Free cash flow (TTM): | $366.69M as of Sep 30, 2024 |
| Net Debt Last Fiscal Year: | $2,983M as of Sep 30, 2024 |
| Shares outstanding: | 236,741,536 as of Nov 19, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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