Slate Office REIT (T:SOT.UN)
Business Focus: Commercial REITs (NEC)
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | 121 King St W TORONTO ON M5H 3T9 |
| Tel: | N/A |
| Website: | https://www.slateofficereit.com |
| IR: | See website |
| Key People | ||
| Brady Scott Welch Interim Chief Executive Officer, Trustee | Lisa Rowe Partner, Slate Canada | Robert Armstrong Chief Financial Officer |
| Ramsey Tarik Ali General Counsel, Corporate Secretary | Bozena M. Jankowska Managing Director, Global Head of ESG, Slate Canada | |
| Business Overview |
| Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of approximately 54 commercial properties located in Canada, the United States and Ireland. The REIT's Canada operations include Atlantic, Ontario and Western. The REIT is externally managed and operated by Slate Management ULC. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Slate Office REIT revenues increased 1% to C$197.6M. Net loss increased from C$16.6M to C$113.1M. Revenues reflect United States segment increase of 15% to C$53.5M, Ireland segment increase of 15% to C$22.2M. Higher net loss reflects Canada segment income decrease of 10% to C$58.7M, Net Operating Income (NOI) -Ontario decrease of 21% to C$24.2M. Dividend per share decreased from C$0.37 to C$0.17. |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $1,222M as of Dec 31, 2023 |
| Annual revenue (TTM): | $197.62M as of Dec 31, 2023 |
| EBITDA (TTM): | $72.50M as of Dec 31, 2023 |
| Net annual income (TTM): | -$113.12M as of Dec 31, 2023 |
| Free cash flow (TTM): | $23.86M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,167M as of Dec 31, 2023 |
| Shares outstanding: | 80,049,062 as of Jan 4, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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