Primaris Real Estate Investment Trust (T:PMZ.UN)
Business Focus: Commercial REITs (NEC)
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | Brookfield Place 181 Bay Street, Suite 2720 TORONTO ON M5J 2T3 |
| Tel: | 1-416-6427837 |
| Website: | https://www.primarisreit.com |
| IR: | See website |
| Key People | ||
| Patrick Sullivan President, Chief Operating Officer, Trustee | Leigh Murray Vice President, Leasing East | Alex Danial Avery Chief Executive Officer |
| Raghunath Davloor Chief Financial Officer | Leslie Buist Senior Vice President - Finance | Brenda Huggins Senior Vice President - Human Resources |
| Mordecai Bobrowsky Senior Vice President - Legal, Secretary | Graham Procter Senior Vice President - Asset Management | Laurel Adamson Vice President, Leasing West | Joseph Martino Vice President - Information Technology |
| Business Overview |
| Primaris Real Estate Investment Trust is a Canada-based company, which operates as an enclosed shopping center-focused real estate investment trust (REIT). The Company owns and manages 35 retail properties aggregating approximately 11.4 million square feet, including 22 enclosed shopping centers totaling approximately 9.8 million square feet and 13 unenclosed shopping center and mixed-use properties aggregating approximately 1.6 million square feet. Its properties include Cataraqui Centre, Devonshire Mall, Dufferin Mall, Grant Park Shopping Centre, Highstreet Shopping Centre, Kildonan Place, Lansdowne Place, Marlborough Mall, McAllister Place, Medicine Hat Mall, New Sudbury Centre, Northland Village, Orchard Park Shopping Centre, Park Place Mall, Peter Pond Mall, Place d'Orleans, Place du Royaume, Quinte Mall, Regent Mall, Sherwood Park Mall, Sunridge Mall, and St. Albert Centre. The Company also owns Conestoga Mall in Waterloo, Ontario. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Primaris Real Estate Investment Trust revenues increased 8% to C$411M. Net income totaled C$102.3M vs. loss of C$12.1M. Revenues reflect Funds from Operations - Per Share - Basi increase of 1% to C$1.6, Funds from Operations - Per Share - Dilu increase of 1% to C$1.59. Net Income reflects Investment Properties segment income increase from C$17.7M to C$153.8M. |
| Employees: | 400 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $2,927M as of Dec 31, 2023 |
| Annual revenue (TTM): | $410.97M as of Dec 31, 2023 |
| EBITDA (TTM): | $199.52M as of Dec 31, 2023 |
| Net annual income (TTM): | $102.27M as of Dec 31, 2023 |
| Free cash flow (TTM): | $126.81M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,630M as of Dec 31, 2023 |
| Shares outstanding: | 96,384,736 as of Apr 8, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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