Pro Real Estate Investment Trust (T:PRV.UN)
Business Focus: Industrial REITs
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | 2000 Mansfield Street Suite 1000 MONTREAL QC H3A 2Z7 |
| Tel: | 1-514-9339552 |
| Website: | https://proreit.com/en |
| IR: | See website |
| Key People | ||
| Gordon G. Lawlor President, Chief Executive Officer | Alison Schafer Chief Financial Officer, Company Secretary | Chris Andrea President of Compass Commercial Realty LP |
| Business Overview |
| PRO Real Estate Investment Trust is a Canada-based industrial-focused open-ended real estate investment trust (REIT). The Trust owns a portfolio of commercial real estate properties in Canada, with an industrial focus in robust secondary markets. Its segments include three classifications of investment properties: Industrial, Retail and Office. It is present in ten Canadian provinces, with a high concentration in Eastern and Central Canada. The Trust owns 121 investment properties (including a 50% ownership interest in 42 investment properties), including 135 Main Street in Moncton, New Brunswick; Amherst, Nova Scotia; L'ancienne-Lorette, Quebec; Daveluyville, Quebec; Saint John, New Brunswick; Miramichi, New Brunswick; Woodstock, New Brunswick, and others. The Trust's properties are located in Western Canada, Ontario, Quebec and Atlantic Canada. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, PRO Real Estate Investment Trust revenues increased 3% to C$99.9M. Net income decreased 69% to C$25.9M. Revenues reflect Industrial segment increase of 7% to C$71.5M. Net income was offset by Net Operating Income (NOI) Retail decrease of 14% to C$11.4M, Fair value adjustment - investment prope increase from C$52.5M (income) to C$2.8M (expense). Dividend per share remained flat at C$0.45. |
| Employees: | 83 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $805.03M as of Dec 31, 2023 |
| Annual revenue (TTM): | $99.89M as of Dec 31, 2023 |
| EBITDA (TTM): | $49.84M as of Dec 31, 2023 |
| Net annual income (TTM): | $25.91M as of Dec 31, 2023 |
| Free cash flow (TTM): | $4.23M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $502.00M as of Dec 31, 2023 |
| Shares outstanding: | 59,280,678 as of Apr 19, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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