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True North Commercial REIT
TSX:TNT.UN

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True North Commercial REIT
TSX:TNT.UN
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Price: 9.25 CAD 0.87% Market Closed
Updated: Mar 29, 2024

Intrinsic Value

True North Commercial REIT is an open-ended real estate investment trust, which engages in the acquisition of commercial office properties. [ Read More ]

The intrinsic value of one TNT.UN stock under the Base Case scenario is 49.02 CAD. Compared to the current market price of 9.25 CAD, True North Commercial REIT is Undervalued by 81%.

Key Points:
TNT.UN Intrinsic Value
Base Case
49.02 CAD
Undervaluation 81%
Intrinsic Value
Price
T
Worst Case
Base Case
Best Case

Valuation Backtest
True North Commercial REIT

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Fundamental Analysis

Financials

Balance Sheet Decomposition
True North Commercial REIT

Current Assets 50m
Cash & Short-Term Investments 6.4m
Receivables 6.2m
Other Current Assets 37.4m
Non-Current Assets 1.3B
Long-Term Investments 1.3B
Other Non-Current Assets 4m
Current Liabilities 163.7m
Accounts Payable 33.4m
Accrued Liabilities 2.5m
Short-Term Debt 18.1m
Other Current Liabilities 109.7m
Non-Current Liabilities 709.1m
Long-Term Debt 703.8m
Other Non-Current Liabilities 5.3m
Efficiency

Earnings Waterfall
True North Commercial REIT

Revenue
134.8m CAD
Cost of Revenue
-59m CAD
Gross Profit
75.8m CAD
Operating Expenses
240k CAD
Operating Income
76.1m CAD
Other Expenses
-132.7m CAD
Net Income
-56.6m CAD

Free Cash Flow Analysis
True North Commercial REIT

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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Fundamental Scores

TNT.UN Profitability Score
Profitability Due Diligence

True North Commercial REIT's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

56/100
Profitability
Score

True North Commercial REIT's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

TNT.UN Solvency Score
Solvency Due Diligence

True North Commercial REIT's solvency score is 19/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Average D/E
Short-Term Solvency
Positive Net Debt
19/100
Solvency
Score

True North Commercial REIT's solvency score is 19/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

TNT.UN Price Targets Summary
True North Commercial REIT

Wall Street analysts forecast TNT.UN stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for TNT.UN is 9.45 CAD with a low forecast of 8.13 CAD and a high forecast of 11.81 CAD.

Lowest
Price Target
8.13 CAD
12% Downside
Average
Price Target
9.45 CAD
2% Upside
Highest
Price Target
11.81 CAD
28% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

TNT.UN Price
True North Commercial REIT

1M 1M
+11%
6M 6M
-24%
1Y 1Y
-53%
3Y 3Y
-76%
5Y 5Y
-74%
10Y 10Y
-67%
Annual Price Range
9.25
52w Low
6.4162
52w High
19.6839
Price Metrics
Average Annual Return 0.1%
Standard Deviation of Annual Returns 18.15%
Max Drawdown -85%
Shares Statistics
Market Capitalization 148m CAD
Shares Outstanding 15 210 000
Percentage of Shares Shorted 0.23%

TNT.UN Return Decomposition
Main factors of price return

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Company Profile

True North Commercial REIT

Country

Canada

Industry

Real Estate

Market Cap

148m CAD

Dividend Yield

18.82%

Description

True North Commercial REIT is an open-ended real estate investment trust, which engages in the acquisition of commercial office properties. The company is headquartered in Toronto, Ontario. The company went IPO on 2012-08-31. The objectives of the REIT is to generate stable cash distributions on a tax-efficient basis; expand the asset base of the REIT and increase its distributable cash flow through acquisitions of commercial rental properties across Canada and such other jurisdictions where opportunities exist, and enhance the value of the REIT’s assets to maximize long-term unit value through active management of its assets. The REIT owns and operates a portfolio of approximately 45 office properties across Canada consisting of 4.7 million square feet. Its investment sectors include public administration, services, finance, insurance, real estate, manufacturing and others. Its properties include 855 8th Avenue SW, 4500 & 4520 - 16th Avenue NW, 1020 68th Avenue NE, 3699 63rd Avenue NE, 13140 St. Albert Trail and others.

Contact

ONTARIO
TORONTO
3280 Bloor Street West, Suite 1400, CentreTower
+14162348444.0
http://commercial.truenorthreit.com/

IPO

2012-08-31

Employees

-

Officers

Chairman of the Board & CEO
Mr. Daniel Drimmer Cook
Company Secretary & Trustee
Ms. Tracy C. Sherren C.A., CPA
CFO & Trustee
Mr. Martin Liddell

See Also

Discover More
What is the Intrinsic Value of one TNT.UN stock?

The intrinsic value of one TNT.UN stock under the Base Case scenario is 49.02 CAD.

Is TNT.UN stock undervalued or overvalued?

Compared to the current market price of 9.25 CAD, True North Commercial REIT is Undervalued by 81%.