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CT Real Estate Investment Trust (T:CRT.UN)

Business Focus: Retail REITs

Sector:  Real Estate Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 2180 Yonge Street, Stn K
PO Box 770
Tel: N/A
IR: See website
Key People
Kevin Mark Salsberg
President, Chief Operating Officer
Kenneth Silver
Chief Executive Officer, Trustee
Lesley Patricia Gibson
Chief Financial Officer
Business Overview
CT Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Company owns commercial properties located primarily in Canada. Its portfolio of properties consists of approximately 358 retail properties, four industrial properties, one mixed-use commercial property and one Development Property (Properties). The properties are located in each of the provinces and in two territories across Canada. The retail properties, industrial properties and mixed-use commercial property contain approximately 28.7 million square feet of gross leasable area (GLA). Its portfolio includes various property types, such as Canadian tire single tenant properties, other 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, Loblaws/Shoppers Drug Mart/No Frills and Bank of Montreal, among others.
Financial Overview
For the three months ended 31 March 2022, CT Real Estate Investment Trust revenues increased 2% to C$132M. Net income increased 25% to C$42.5M. Revenues reflect Base rent increase of 2% to C$101.1M, Capital expenditure and interest recover increase of 23% to C$3.2M. Net income benefited from Net Operating Income (NOI), Total increase of 4% to C$102.8M, Fair value adjustment on investment prop increase from C$4.3M to C$22.1M (income).
Employees: 58 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $4,580M as of Mar 31, 2022
Annual revenue (TTM): $516.58M as of Mar 31, 2022
EBITDA (TTM): $394.70M as of Mar 31, 2022
Net annual income (TTM): $216.68M as of Mar 31, 2022
Free cash flow (TTM): $342.62M as of Mar 31, 2022
Net Debt Last Fiscal Year: $2,740M as of Mar 31, 2022
Shares outstanding: 233,788,923 as of Apr 27, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization