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Pro Real Estate Investment Trust (V:PRV.UN)

Business Focus: Commercial REITs

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Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 2000 Mansfield St Suite 920
Tel: N/A
IR: See website
Key People
John Levitt
Independent Chairman of the Board
James W. Beckerleg
President, Chief Executive Officer, Director
Gordon G. Lawlor
Chief Financial Officer
Vitale A. Santoro
Corporate Secretary, Independent Director
Business Overview
PRO Real Estate Investment Trust is a Canada-based unincorporated, open-ended real estate investment trust (REIT). The Company's segments include four classifications of investment properties: Retail, Office, Commercial Mixed Use and Industrial. The Company owns a portfolio of diversified commercial real estate properties in Canada, and has a focus on primary and secondary markets in Quebec, Atlantic Canada and Ontario with selective expansion into Western Canada (Alberta and British Columbia). The Company's portfolio consists of approximately 30 properties providing a portfolio of over 1.7 million square feet of commercial gross leasable area. The Company's portfolio is diversified by property type and geography across Quebec, New Brunswick, Nova Scotia and Alberta. The Company's properties include 135 Main Street, 2 Lawrence Street, 1670 Notre-Dame Street, 449 Principale Street, 2485 King George Highway, 325 Hymus Boulevard, 1850 Vanier Boulevard and 55 Technology Drive.
Financial Overview
For the fiscal year ended 31 December 2018, PRO Real Estate Investment Trust revenues increased 38% to C$40.9M. Net income increased 87% to C$18.8M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Fair value adjustment Class B LP Units decrease from C$750K (expense) to C$3.4M (income), Fair value adjustment - investment prope increase of 55% to C$4.2M (income).
Reporting Currency: Canadian Dollars
Enterprise value: $499.79M as of Mar 31, 2019
Annual revenue (TTM): $40.89M as of Mar 31, 2019
EBITDA (TTM): $23.78M as of Mar 31, 2019
Net annual income (TTM): $18.77M as of Mar 31, 2019
Free cash flow (TTM): $0.11M as of Mar 31, 2019
Net Debt Last Fiscal Year: $295.64M as of Mar 31, 2019
Shares outstanding: 28,753,163 as of May 8, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization