TNT.UN Relative Valuation - True North Commercial REIT

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Price: 8.13 CAD -0.12%

Market Cap: CA$114.3m

T	True North Commercial REIT TSX:TNT.UN	CA
	GSTechnologies Ltd LSE:GST	AU

Multiples-Based Value

The Multiples-Based Value of one TNT.UN stock under the Base Case scenario is 46.92 CAD. Compared to the current market price of 8.13 CAD, True North Commercial REIT is Undervalued by 83%.

Multiples-Based Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is relative valuation?

How is Multiples-Based Value calculated?

TNT.UN Multiples-Based Value

Base Case

Undervaluation 83%

Multiples-Based Value

Price CA$8.13

Worst Case

Base Case

Best Case

Valuation Multiples

View Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
CA	T	True North Commercial REIT TSX:TNT.UN	114.3m CAD	0.9	-3.5	9.4	9.4
US		Boston Properties Inc NYSE:BXP	8.3B USD	2.4	30.3	12.4	23.5
US		Alexandria Real Estate Equities Inc NYSE:ARE	7.5B USD	2.4	-5	9.2	28.4
JP		Nippon Building Fund Inc TSE:8951	1.2T JPY	11.9	27.7	27.8	37.1
FR		Covivio SA PAR:COV	6.3B EUR	4.4	8.5	15.3	18.1
US		COPT Defense Properties NYSE:CDP	7.1B USD	9.3	46.9	41.7	41.7
JP		Japan Real Estate Investment Corp TSE:8952	871.5B JPY	10.4	23.8	24.1	31.5
US		Vornado Realty Trust NYSE:VNO	5.1B USD	2.8	6.1	15.4	43.9
SG		Keppel REIT SGX:K71U	4.5B	0	0	0	0
AU		Dexus ASX:DXS	6.4B AUD	7.2	12.3	34.4	34.4
JP		Kenedix Office Investment Corp TSE:8972	671.3B JPY	8.5	19.8	22.1	27.8

				Revenue Growth	P/S to Growth
CA	T	True North Commercial REIT TSX:TNT.UN	Average P/S: 6 0.9	N/A	N/A
US		Boston Properties Inc NYSE:BXP	2.4	2%	1.2
US		Alexandria Real Estate Equities Inc NYSE:ARE	2.4	-3%	N/A
JP		Nippon Building Fund Inc TSE:8951	11.9	3%	4
FR		Covivio SA PAR:COV	4.4	-14%	N/A
US		COPT Defense Properties NYSE:CDP	9.3	4%	2.3
JP		Japan Real Estate Investment Corp TSE:8952	10.4	-2%	N/A
US		Vornado Realty Trust NYSE:VNO	2.8	4%	0.7
SG		Keppel REIT SGX:K71U	Not Available	8%	N/A
AU		Dexus ASX:DXS	7.2	1%	7.2
JP		Kenedix Office Investment Corp TSE:8972	8.5	-1%	N/A

				Earnings Growth	PEG
CA	T	True North Commercial REIT TSX:TNT.UN	Average P/E: 21.9 Negative Multiple: -3.5	N/A	N/A
US		Boston Properties Inc NYSE:BXP	30.3	13%	2.3
US		Alexandria Real Estate Equities Inc NYSE:ARE	Negative Multiple: -5	N/A	N/A
JP		Nippon Building Fund Inc TSE:8951	27.7	7%	4
FR		Covivio SA PAR:COV	8.5	-7%	N/A
US		COPT Defense Properties NYSE:CDP	46.9	3%	15.6
JP		Japan Real Estate Investment Corp TSE:8952	23.8	0%	N/A
US		Vornado Realty Trust NYSE:VNO	6.1	-53%	N/A
SG		Keppel REIT SGX:K71U	Not Available	-21%	N/A
AU		Dexus ASX:DXS	12.3	64%	0.2
JP		Kenedix Office Investment Corp TSE:8972	19.8	2%	9.9

				EBITDA Growth	EV/EBITDA to Growth
CA	T	True North Commercial REIT TSX:TNT.UN	Average EV/EBITDA: 21.2 9.4	N/A	N/A
US		Boston Properties Inc NYSE:BXP	12.4	3%	4.1
US		Alexandria Real Estate Equities Inc NYSE:ARE	9.2	-4%	N/A
JP		Nippon Building Fund Inc TSE:8951	27.8	3%	9.3
FR		Covivio SA PAR:COV	15.3	-7%	N/A
US		COPT Defense Properties NYSE:CDP	41.7	26%	1.6
JP		Japan Real Estate Investment Corp TSE:8952	24.1	-1%	N/A
US		Vornado Realty Trust NYSE:VNO	15.4	5%	3.1
SG		Keppel REIT SGX:K71U	Not Available	22%	N/A
AU		Dexus ASX:DXS	34.4	31%	1.1
JP		Kenedix Office Investment Corp TSE:8972	22.1	3%	7.4

				EBIT Growth	EV/EBIT to Growth
CA	T	True North Commercial REIT TSX:TNT.UN	Average EV/EBIT: 29.6 9.4	N/A	N/A
US		Boston Properties Inc NYSE:BXP	23.5	4%	5.9
US		Alexandria Real Estate Equities Inc NYSE:ARE	28.4	-12%	N/A
JP		Nippon Building Fund Inc TSE:8951	37.1	N/A	N/A
FR		Covivio SA PAR:COV	18.1	-2%	N/A
US		COPT Defense Properties NYSE:CDP	41.7	5%	8.3
JP		Japan Real Estate Investment Corp TSE:8952	31.5	N/A	N/A
US		Vornado Realty Trust NYSE:VNO	43.9	13%	3.4
SG		Keppel REIT SGX:K71U	Not Available	13%	N/A
AU		Dexus ASX:DXS	34.4	31%	1.1
JP		Kenedix Office Investment Corp TSE:8972	27.8	N/A	N/A

True North Commercial REIT
TSX:TNT.UN

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

TNT.UN Competitors Multiples
True North Commercial REIT Competitors

See Also

Company

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Stocks

True North Commercial REIT TSX:TNT.UN

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

TNT.UN Competitors Multiples True North Commercial REIT Competitors

See Also

Company

Help

Tools

Stocks

True North Commercial REIT
TSX:TNT.UN

TNT.UN Competitors Multiples
True North Commercial REIT Competitors