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Canadian Net Real Estate Investment Trust (V:NET.UN)

Business Focus: Commercial REITs (NEC)

Sector:  Real Estate Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 106 av. Gun
Tel: N/A
IR: See website
Key People
Charles Benjamin Gazith
Chief Financial Officer, Treasurer
Kevin Henley
Chief Investment Officer, Secretary
Business Overview
Canadian Net Real Estate Investment Trust (the Trust) is a Canada-based open-ended real estate investment trust. The Trust owns and rents commercial real estate properties directly and through its wholly owned subsidiaries. The Trust holds approximately 91 investment properties, 75 residing in the province of Quebec, nine in the province of Ontario and seven in the province of Nova Scotia. The properties are occupied by four distinct groups of tenants, which consist of retailers, national service-station and convenience store chains, quick service restaurant chains, and others. These properties are leased to tenants on a management-free basis with triple net leases. The Trust's properties include 40-50 Brunet Street, 230 St-Luc Blvd., 196 Hotel-de-Ville Blvd., 1349-1351 Road 117, 275 Barkoff Street, 530 Barkoff Street, 340-344 Montee du Comte, 1440-50 St-Laurent East Blvd., 1460 St-Laurent East Blvd., 490-494 De L'Atrium Blvd., and 7335 Guillaume Couture Blvd., among others.
Financial Overview
For the three months ended 31 March 2022, Canadian Net Real Estate Invest Trust revenues increased 78% to C$6.5M. Net income increased from C$224K to C$1.5M. Revenues reflect Funds from Operations - Per Share - Basi increase of 8% to C$0.15, Funds from Operations - Per Share - Dilu increase of 8% to C$0.15, Other Rev from Biz Related Activ. increase from -C$802K to C$1.1M, Rental income from investment properties increase of 22% to C$5.4M.
Reporting Currency: Canadian Dollars
Enterprise value: $290.99M as of Mar 31, 2022
Annual revenue (TTM): $24.76M as of Mar 31, 2022
EBITDA (TTM): $17.88M as of Mar 31, 2022
Net annual income (TTM): $26.35M as of Mar 31, 2022
Free cash flow (TTM): $4.80M as of Mar 31, 2022
Net Debt Last Fiscal Year: $155.54M as of Mar 31, 2022
Shares outstanding: 20,582,530 as of May 16, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization