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Cominar Real Estate Investment Trust (T:CUF.UN)

Business Focus: Diversified REITs

Sector:  Financials Industry:  Diversified REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 2820 Laurier Blvd Suite 850
Tel: 1-514-7373344
IR: See website
Key People
Sylvain Cossette
President, Chief Executive Officer, Trustee
Heather C. Kirk
Chief Financial Officer, Executive Vice President
Marie-Andree Boutin
Executive Vice President - Retail, Chief Development Officer
Wally Commisso
Executive Vice President - Operations and Property Management
Jean Laramee
Executive Vice President - Development
Bernard Poliquin
Executive Vice President - Office & Industrial, Chief Real Estate Operations Officer
Michael Racine
Executive Vice President - Leasing - Office and Industrial
Carl Pepin
Vice President - Finance and Accounting
Brigitte Dufour
Vice President, - Legal Affairs, Corporate Secretary
Business Overview
Cominar REIT is a Canada-based real estate investment trust (REIT). The Company owns and manages properties in the Province of Quebec. Its segments include Office, Retail and Industrial and flex. It owns a portfolio of approximately 331 properties, composed of office, retail and industrial and flex buildings, of which 201 are located in the Montreal area, 111 in the Quebec City area and 19 in the Ottawa area. Its portfolio consists of approximately 11.2million square feet of office space, 9.9 million square feet of retail space and 15.4 million square feet of industrial and flex space, representing total leasable area of 36.5million square feet. Its properties include 1 to 243 Place Frontenac, 1 Antares Drive, 1080 Beaver Hall Hill, 1200 Papineau Avenue, 1600 le Corbusier Boulevard, 245 Soumande Street, 3103 Royal Boulevard, 1010 Godin Avenue and 120 de New York Street.
Financial Overview
For the six months ended 30 June 2020, Cominar REIT revenues decreased 7% to C$332.7M. Net loss totaled C$273.1M vs. income of C$95.8M. Revenues reflect Retail Properties segment decrease of 9% to C$121M, FFO per Share (Diluted) decrease of 15% to C$0.22. Net loss reflects Net Operating Income (NOI) - Retail decrease of 44% to C$17.6M, Change in fair value of investment prope increase from C$8.1M (income) to C$319.4M (expense).
Employees: 756 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: $4,822M as of Jun 30, 2020
Annual revenue (TTM): $678.13M as of Jun 30, 2020
EBITDA (TTM): $318.60M as of Jun 30, 2020
Net annual income (TTM): $93.58M as of Jun 30, 2020
Free cash flow (TTM): $64.62M as of Jun 30, 2020
Net Debt Last Fiscal Year: $3,443M as of Jun 30, 2020
Shares outstanding: 182,442,197 as of Jun 30, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization