CT REIT Q3 net income rises on higher property revenue
Overview
CT REIT Q3 net income rises yr/yr, driven by higher property revenue
Property revenue for Q3 increased 4.5% yr/yr, reflecting portfolio growth
Company announces $19 mln in new investments, adding 50,000 sq ft GLA
Outlook
CT REIT plans $19 mln investment with expected yield of 6.45%
Result Drivers
ACQUISITIONS AND INTENSIFICATIONS - Increased property revenue and NOI driven by acquisitions and intensifications completed in 2024 and 2025
PREVIOUS INVESTMENTS COMPLETED - $72 mln invested in previously disclosed projects, adding 351,000 sq ft GLA
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Property Revenue | C$151.16 mln | ||
Q3 Net Income | C$117.11 mln | ||
Q3 Adjusted FFO | C$75.36 mln | ||
Q3 FFO | C$80.53 mln | ||
Q3 Operating Income | C$119.86 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for CT Real Estate Investment Trust is C$16.75, about 2.6% above its October 31 closing price of C$16.31
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release:
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