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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 Executive Officer
Lesley Patricia Gibson
Chief Financial Officer
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 2022, CT Real Estate Investment Trust revenues increased 3% to C$397.6M. Net income decreased 24% to C$114.1M. Revenues reflect FFO per Share (Basic) increase of 2% to C$0.31, FFO per Share (Diluted) increase of 1% to C$0.31, Base rent increase of 3% to C$306M, Property operating expense recoveries increase of 4% to C$80.3M.
Employees: 58 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $4,410M as of Sep 30, 2022
Annual revenue (TTM): $527.16M as of Sep 30, 2022
EBITDA (TTM): $402.41M as of Sep 30, 2022
Net annual income (TTM): $171.20M as of Sep 30, 2022
Free cash flow (TTM): $321.39M as of Sep 30, 2022
Net Debt Last Fiscal Year: $2,844M as of Sep 30, 2022
Shares outstanding: 234,587,918 as of Nov 25, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization