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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
QUEBEC QC G1V 0C1
Tel: N/A
Website: https://www.cominar.com
IR: See website
Key People
Sylvain Cossette
President, Chief Executive Officer, Trustee
Heather C. Kirk
Chief Financial Officer, Executive Vice President
Alain Dallaire
Chief Operating Officer, Executive Vice President
Marie-Andree Boutin
Executive Vice President - Retail Strategy and Operations
Wally Commisso
Executive Vice President - Operations and Property Management
Jean Laramee
Executive Vice President - Development
Michael Racine
Executive Vice President - Leasing - Office and Industrial
Carl Pepin
Vice President - Finance and Accounting
Manon Deslauriers
Vice President - Legal Affairs, Corporate Secretary
Business Overview
Cominar REIT is a Canada-based real estate investment trust (REIT). The Company is a commercial property owner and manager in the province of Quebec. Its segments include Office, Retail, and Industrial and mixed-use. Its activities include a portfolio of three property types, including office properties, retail properties, and industrial and mixed-use properties located in Canadian provinces. It owns and manages a portfolio of approximately 570 properties, including over 140 office buildings, approximately 200 retail buildings and over 230 industrial and mixed-use buildings located in Quebec, Ontario, the Atlantic Provinces and Western Canada. Its portfolio of properties includes 4635 1re Avenue, 5055 Wilfrid-Hamel Ouest Blvd, 2014 Cyrille-Duquet St, 455 du Marais St, 979 de Bourgogne Ave, 400 Cooper St, 355 du Marais St, 3323 du Carrefour St, 1990 Cyrille-Duquet St, 2025 Lavoisier St and 280 Racine St.
Financial Overview
For the nine months ended 30 September 2019, Cominar REIT revenues decreased 5% to C$530.1M. Net income increased 2% to C$143.2M. Revenues reflect Office Properties segment decrease of 7% to C$225.8M, FFO per Share (Diluted) decrease of 10% to C$0.26. Net Income benefited from Net Operating Income (NOI) - Industrial increase of 3% to C$23.8M, Transaction costs decrease of 74% to C$5.2M (expense).
Employees: 646 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $6,297M as of Sep 30, 2019
Annual revenue (TTM): $706.18M as of Sep 30, 2019
EBITDA (TTM): $339.81M as of Sep 30, 2019
Net annual income (TTM): -$210.11M as of Sep 30, 2019
Free cash flow (TTM): $55.24M as of Sep 30, 2019
Net Debt Last Fiscal Year: $3,503M as of Sep 30, 2019
Shares outstanding: 182,111,365 as of Jan 15, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization