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InterRent Real Estate Investment Trust (T:IIP.UN)

Business Focus: Residential REITs

Sector:  Real Estate Industry:  Residential REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 485 Bank St Suite 207
Tel: N/A
IR: See website
Key People
Bradley Cutsey
Mike Darryl McGahan
Chief Executive Officer, Trustee
Curt Millar
Chief Financial Officer
Dave Nevins
Chief Operating Officer
Chris Willoughby
Vice President of Marketing
Business Overview
InterRent Real Estate Investment Trust is a real estate investment trust. The Company is focused on the acquisition, ownership, management and repositioning of multi-residential properties. It owns properties in Greater Toronto Area (GTA), Montreal, the National Capital Region, and relating markets. The Company's portfolio of properties is located across various locations, such as Ajax, Burlington, Gatineau, Grimsby, Guelph, Hamilton, London, Mississauga, Montreal, Ottawa, St. Catharines, Stratford, Toronto, Trento and Vancouver. Its properties include 10 - 14 Reid Drive, 1276 Dorchester Avenue, 157 Pearl Street, 180 Beausoleil Drive, 197 Cumberland Street, 214 Metcalfe Street, 225 MacLaren Street, 235 Charlotte Street, 3474 Hutchison, 447 Somerset Street West, 475 & 485 King Edward Avenue, 5015-5025 Clanranald, 5051 Clanranald, Britannia Beachfront, Grimsby Apartments, Hamilton Landing, KAPPELE CIRCLE APARTMENTS, La Tour Hampstead and Place Kingsley Apartments.
Financial Overview
For the three months ended 31 March 2022, Interrent Real Estate Investment Trust revenues increased 20% to C$51.9M. Net income decreased 10% to C$94.6M. Revenues reflect FFO per Share (Basic) increase of 17% to C$0.13, FFO per Share (Diluted) increase of 17% to C$0.13. Net income was offset by Fair value adjustments on investment pro decrease of 33% to C$65.8M (income), Mortgages payable increase of 26% to C$8.6M (expense).
Employees: 435 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $3,470M as of Mar 31, 2022
Annual revenue (TTM): $193.96M as of Mar 31, 2022
EBITDA (TTM): $111.39M as of Mar 31, 2022
Net annual income (TTM): $359.61M as of Mar 31, 2022
Free cash flow (TTM): $63.88M as of Mar 31, 2022
Net Debt Last Fiscal Year: $1,594M as of Mar 31, 2022
Shares outstanding: 144,074,454 as of May 3, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization