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 OTTAWA ON K2P 1Z2 |
| Tel: | N/A |
| Website: | www.interrentreit.com |
| IR: | See website |
| Key People | ||
| Bradley Cutsey President | 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 | |
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