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Lanesborough Real Estate Investment Trust (T:LRT.UN)

Business Focus: Residential REITs

Sector:  Real Estate Industry:  Residential REITs
 
Company Contact
Address: 2600 Seven Evergreen Place
WINNIPEG MB R3L 2T3
Tel: 1-204-4759090
Website: lreit.com/index_downloadflash.asp
IR: See website
Key People
Gino Romagnoli
Chief Executive Officer, Manager - Investor Services
Arni Clayton Thorsteinson
Vice Chairman of the Board of Trustee
Gary W. Benjaminson
Chief Financial Officer, Secretary
Business Overview
Lanesborough Real Estate Investment Trust (The Trust) is a Canada-based closed-end real estate investment trust. The investment properties of the Trust operate through three segments: Fort McMurray Properties, Other Investment Properties, and Held for Sale and/or Sold Properties. Its Fort McMurray Properties include 10 properties. Its Other Investment Properties includes three properties. It's Held for Sale and/or Sold Properties includes four properties. The Trust's property portfolio consists of 13 rental properties, encompassing 12 multi-unit residential properties, including the unsold condominium units at Lakewood Townhomes.
Financial Overview
For the fiscal year ended 31 December 2023, Lanesborough Real Estate Investmnt Trust revenues decreased 23% to C$13.1M. Net loss before extraordinary items totaled C$1.8M vs. income of C$26.2M. Revenues reflect Rentals from investment properties decrease of 26% to C$13.2M. Net loss reflects Gain on extinguishment of Series G Deben decrease from C$19.8M (income) to C$0K, Fair value adjustments decrease of 63% to C$5.7M (income).
Reporting Currency: Canadian Dollars
Enterprise value: $177.46M as of Dec 31, 2023
Annual revenue (TTM): $13.15M as of Dec 31, 2023
EBITDA (TTM): $2.43M as of Dec 31, 2023
Net annual income (TTM): -$1.78M as of Dec 31, 2023
Free cash flow (TTM): -$5.79M as of Dec 31, 2023
Net Debt Last Fiscal Year: $174.06M as of Dec 31, 2023
Shares outstanding: 680,473,620 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization