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

Business Focus: Commercial REITs

Sector:  Financials Industry:  Commercial REITs
 
See Regulatory Filings on SEDAR
Company Contact
Address: 249 Saunders Rd Unit 3
BARRIE ON L4N 9A3
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 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 nine months ended 30 September 2019, Partners Real Estate Investment Trust revenues decreased 53% to C$18.2M. Net income totaled C$2.2M vs. loss of C$1.4M. Revenues reflect FFO per Share (Basic) decrease of 22% to C$0.06, FFO per Share (Diluted) decrease of 22% to C$0.06. Net Income reflects Unrealized gain (loss) on income produci increase from C$10.2M (expense) to C$32K (income).
Reporting Currency: Canadian Dollars
Enterprise value: $97.87M as of Sep 30, 2019
Annual revenue (TTM): $28.69M as of Sep 30, 2019
EBITDA (TTM): $13.04M as of Sep 30, 2019
Net annual income (TTM): -$29.26M as of Sep 30, 2019
Free cash flow (TTM): -$98.72M as of Sep 30, 2019
Net Debt Last Fiscal Year: $61.64M as of Sep 30, 2019
Shares outstanding: 46,079,673 as of Sep 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization