CT Real Estate Investment Trust
TSX:CRT.UN
Intrinsic Value
CT Real Estate Investment Trust is an unincorporated and closed end real estate investment trust formed to own income-producing commercial properties. [ Read More ]
The intrinsic value of one CRT.UN stock under the Base Case scenario is 32.94 CAD. Compared to the current market price of 14.27 CAD, CT Real Estate Investment Trust is Undervalued by 57%.
Valuation Backtest
CT Real Estate Investment Trust
Run backtest to discover the historical profit from buying and selling CRT.UN stocks based on their intrinsic value.
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Fundamental Analysis
Strong Growth and Robust Portfolio
2023-Q4 Earnings Call
The company experienced a 4.6% increase in net operating income, fueled by a 2.5% growth in same-store NOI, a 4.3% expansion in same property NOI, and a significant 4.9% jump in AFFO per unit. The payout ratio decreased to 73.4%, signifying an improvement over the previous year. Portfolio growth was notable with 839,000 square feet added, including a Net Zero certified distribution center. Additionally, the company repurchased over 450,000 units at an average price of $13.99 and marked its 10-year public anniversary. Portfolio occupancy remained high at 99.1%, and operational performance was solid with a same-store NOI increase driven by contractual rent escalations and the recovery of capital expenditures. Despite a fair value adjustment dip of approximately $39.3 million, the financial health appears strong.
Balance Sheet Decomposition
CT Real Estate Investment Trust
Current Assets | 28.9m |
Cash & Short-Term Investments | 20.8m |
Receivables | 3.5m |
Other Current Assets | 4.6m |
Non-Current Assets | 6.9B |
Long-Term Investments | 6.9B |
Other Non-Current Assets | 1.7m |
Current Liabilities | 332.9m |
Other Current Liabilities | 332.9m |
Non-Current Liabilities | 4.9B |
Long-Term Debt | 2.8B |
Other Non-Current Liabilities | 2.1B |
Earnings Waterfall
CT Real Estate Investment Trust
Revenue
|
552.8m
CAD
|
Cost of Revenue
|
-20.4m
CAD
|
Gross Profit
|
532.4m
CAD
|
Operating Expenses
|
-110.4m
CAD
|
Operating Income
|
422m
CAD
|
Other Expenses
|
-316.7m
CAD
|
Net Income
|
105.3m
CAD
|
Free Cash Flow Analysis
CT Real Estate Investment Trust
What is Free Cash Flow?
CRT.UN Profitability Score
Profitability Due Diligence
CT Real Estate Investment Trust's profitability score is 62/100. The higher the profitability score, the more profitable the company is.
Score
CT Real Estate Investment Trust's profitability score is 62/100. The higher the profitability score, the more profitable the company is.
CRT.UN Solvency Score
Solvency Due Diligence
CT Real Estate Investment Trust's solvency score is 19/100. The higher the solvency score, the more solvent the company is.
Score
CT Real Estate Investment Trust's solvency score is 19/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
CRT.UN Price Targets Summary
CT Real Estate Investment Trust
According to Wall Street analysts, the average 1-year price target for CRT.UN is 15.89 CAD with a low forecast of 15.15 CAD and a high forecast of 16.8 CAD.
Shareholder Return
CRT.UN Price
CT Real Estate Investment Trust
Average Annual Return | 7.88% |
Standard Deviation of Annual Returns | 9.55% |
Max Drawdown | -46% |
Market Capitalization | 1.5B CAD |
Shares Outstanding | 108 430 000 |
Percentage of Shares Shorted | 1.96% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
CT Real Estate Investment Trust is an unincorporated and closed end real estate investment trust formed to own income-producing commercial properties. The company is headquartered in Toronto, Ontario and currently employs 58 full-time employees. The company went IPO on 2013-10-22. The firm owns commercial properties located primarily in Canada. Its portfolio of properties consists of approximately 358 retail properties, four industrial properties, one mixed-use commercial property and one Development Property (Properties). The properties are located in each of the provinces and in two territories across Canada. The retail properties, industrial properties and mixed-use commercial property contain approximately 28.7 million square feet of gross leasable area (GLA). Its portfolio includes various property types, such as Canadian tire single tenant properties, other single tenant properties, multi-tenant properties anchored by Canadian tire store, multi-tenant properties not anchored by Canadian tire store, industrial properties and mixed-use property. Its tenants include Save-On-Foods/Buy-Low Foods, Loblaws/Shoppers Drug Mart/No Frills and Bank of Montreal, among others.
Contact
IPO
Employees
Officers
The intrinsic value of one CRT.UN stock under the Base Case scenario is 32.94 CAD.
Compared to the current market price of 14.27 CAD, CT Real Estate Investment Trust is Undervalued by 57%.