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Slate Office REIT (T:SOT.UN)

Business Focus: Commercial REITs (NEC)

Sector:  Real Estate Industry:  Commercial REITs
Company Contact
Address: 121 King St W
Tel: N/A
IR: See website
Key People
Brady Scott Welch
Interim Chief Executive Officer, Trustee
Lisa Rowe
Partner, Slate Asset Management (Canada) L.P.
Charles Peach
Chief Financial Officer
Bozena M. Jankowska
Managing Director, Global Head of ESG, Slate Asset Management L.P.
Ramsey Tarik Ali
Corporate Secretary and General Counsel, Slate Asset Management (Canada) L.P.
Business Overview
Slate Office REIT (REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is an owner and operator of workplace real estate. The REIT owns interests in and operates a portfolio of strategic and well-located real estate assets in North America and Europe. The REIT's portfolio consists of approximately 53 commercial properties located in North America and Europe. Its portfolio is comprised of government and credit tenants. Its geographical segments include Atlantic, Ontario, Western, United States and Ireland. The REIT is externally managed and operated by Slate Management ULC.
Financial Overview
For the nine months ended 30 September 2023, Slate Office REIT revenues increased 1% to C$148.8M. Net loss totaled C$58.4M vs. income of C$70.2M. Revenues reflect United States segment increase of 20% to C$41M, Ireland segment increase of 25% to C$16.9M. Net loss reflects Canada segment income decrease of 15% to C$43.8M, Net Operating Income (NOI) -Ontario decrease of 28% to C$17.9M. Dividend per share decreased from C$0.27 to C$0.16.
Reporting Currency: Canadian Dollars
Enterprise value: $1,197M as of Sep 30, 2023
Annual revenue (TTM): $197.47M as of Sep 30, 2023
EBITDA (TTM): $71.20M as of Sep 30, 2023
Net annual income (TTM): -$145.28M as of Sep 30, 2023
Free cash flow (TTM): $14.10M as of Sep 30, 2023
Net Debt Last Fiscal Year: $1,171M as of Sep 30, 2023
Shares outstanding: 80,023,409 as of Sep 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization