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Partners Real Estate Investment Trust (T:PAR.UN)

Business Focus: Commercial REITs

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Sector:  Financials Industry:  Commercial REITs
 
See Regulatory Filings on SEDAR
Company Contact
Address: 36 Toronto St Suite 1160
TORONTO ON M5C 2C5
Tel: N/A
Website: www.partnersreit.com
IR: See website
Key People
Ian Ross
Chairman of the Board of Trustee, Interim Chief Executive Officer
Derrick W. West
Chief Financial Officer, Corporate Secretary
 
Business Overview
Partners Real Estate Investment Trust (Partners REIT) is a Canada-based open-ended real estate investment trust. The Trust is focused on the acquisition and management of a range of retail and mixed-use retail community and neighborhood shopping centers. The Trust's properties are located in both primary and secondary markets throughout Canada, and are primarily mid-market assets. Partners REIT's portfolio consists of approximately 30 properties located in British Columbia, Alberta, Manitoba, Ontario and Quebec. Partners REIT's properties consist of approximately 2.5 million square feet of gross leasable area (GLA). The Trust's properties include Centuria Urban Village in British Columbia; Manning Crossing in Alberta; Shoppers Drug Mart Property in Manitoba; Cornwall Square, Crossing Bridge Square, King George Square, Place Val Est, Rona Property and Wellington Southdale in Ontario, and Elgar Place, Marcel Laurin, Place Desormeaux and Plaza des Seigneurs in Quebec.
Financial Overview
For the three months ended 31 March 2019, Partners Real Estate Investment Trust revenues decreased 29% to C$9.2M. Net income totaled C$2.9M vs. loss of C$2.3M. Revenues reflect FFO per Share (Basic) decrease of 14% to C$0.06, FFO per Share (Diluted) decrease of 14% to C$0.06. Net Income reflects FV Adjustments on Investment Property increase from C$5M (expense) to C$87K (income), Financing costs decrease of 41% to C$1.7M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $87.04M as of Mar 31, 2019
Annual revenue (TTM): $45.07M as of Mar 31, 2019
EBITDA (TTM): $22.94M as of Mar 31, 2019
Net annual income (TTM): -$27.72M as of Mar 31, 2019
Free cash flow (TTM): -$33.62M as of Mar 31, 2019
Net Debt Last Fiscal Year: $62.76M as of Mar 31, 2019
Shares outstanding: 46,079,673 as of Mar 31, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization