BTB Real Estate Investment Trust Management

Management criteria checks 3/4

BTB Real Estate Investment Trust's CEO is Michel Leonard, appointed in Jul 2006, has a tenure of 17.75 years. total yearly compensation is CA$1.33M, comprised of 47% salary and 53% bonuses, including company stock and options. directly owns 1.41% of the company’s shares, worth CA$3.93M. The average tenure of the management team and the board of directors is 3.1 years and 9.8 years respectively.

Key information

Michel Leonard

Chief executive officer

CA$1.3m

Total compensation

CEO salary percentage	47.0%
CEO tenure	17.8yrs
CEO ownership	1.4%
Management average tenure	3.1yrs
Board average tenure	9.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Michel Leonard's remuneration changed compared to BTB Real Estate Investment Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	CA$37m
Sep 30 2023	n/a	n/a	CA$37m
Jun 30 2023	n/a	n/a	CA$33m
Mar 31 2023	n/a	n/a	CA$41m
Dec 31 2022	CA$1m	CA$625k	CA$38m
Sep 30 2022	n/a	n/a	CA$60m
Jun 30 2022	n/a	n/a	CA$57m
Mar 31 2022	n/a	n/a	CA$46m
Dec 31 2021	CA$1m	CA$597k	CA$42m
Sep 30 2021	n/a	n/a	CA$22m
Jun 30 2021	n/a	n/a	CA$19m
Mar 31 2021	n/a	n/a	CA$11m
Dec 31 2020	CA$1m	CA$580k	CA$3m
Sep 30 2020	n/a	n/a	CA$41m
Jun 30 2020	n/a	n/a	CA$40m
Mar 31 2020	n/a	n/a	CA$45m
Dec 31 2019	CA$870k	CA$564k	CA$52m
Sep 30 2019	n/a	n/a	CA$35m
Jun 30 2019	n/a	n/a	CA$35m
Mar 31 2019	n/a	n/a	CA$36m
Dec 31 2018	CA$1m	CA$555k	CA$41m
Sep 30 2018	n/a	n/a	CA$32m
Jun 30 2018	n/a	n/a	CA$31m
Mar 31 2018	n/a	n/a	CA$31m
Dec 31 2017	CA$953k	CA$541k	CA$28m

Compensation vs Market: Michel's total compensation ($USD973.17K) is above average for companies of similar size in the Canadian market ($USD735.03K).

Compensation vs Earnings: Michel's compensation has been consistent with company performance over the past year.

CEO

Michel Leonard (66 yo)

17.8yrs

Tenure

CA$1,330,031

Compensation

Mr. Michel Leonard serves as the Chief Executive Officer and President at BTB Real Estate Investment Trust July 12, 2006. Mr. Leonard is Vice-Chairman of the Board of the Organisme d’autoréglementation du...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michel Leonard	President	17.8yrs	CA$1.33m	1.41% CA$ 3.9m
Charles Bédard	Senior Director of Finance	no data	no data	0.0013% CA$ 3.7k
Bruno Meunier	Vice President of Operations	no data	no data	0.0029% CA$ 8.1k
Philippine Soulie	Director of Communications & Investor Relations	1.8yrs	no data	no data
Francis Hogue	Director of Legal Affairs	no data	no data	no data
Eleni Mentzelos	Director of Human Resources	3.1yrs	no data	no data
Nathalie Jacques	Director of Corporate Accounting	no data	no data	no data
Étienne Charbonneau	Principal Controller	no data	no data	no data

3.1yrs

Average Tenure

Experienced Management: BTB.UN's management team is considered experienced (3.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michel Leonard	President	17.8yrs	CA$1.33m	1.41% CA$ 3.9m
Jocelyn Proteau	Independent Chairman of the Board	17.8yrs	CA$115.00k	0.096% CA$ 268.8k
Sylvie Lachance	Independent Trustee	9.8yrs	CA$70.00k	0.039% CA$ 108.6k
Fernand Perreault	Independent Trustee	13.6yrs	CA$80.00k	0.083% CA$ 231.3k
Christine Marchildon	Independent Trustee	2.5yrs	CA$75.00k	no data
Jean-Pierre Janson	Independent Vice Chairman of the Board	17.8yrs	CA$65.00k	0.12% CA$ 348.1k
Luc Martin	Independent Trustee	7.8yrs	CA$80.00k	0.057% CA$ 159.8k
Lucie Ducharme	Independent Trustee	9.8yrs	CA$80.00k	0.0021% CA$ 5.7k
Armand Des Rosiers	Independent Trustee	less than a year	no data	no data

9.8yrs

Average Tenure

69yo

Average Age

Experienced Board: BTB.UN's board of directors are considered experienced (9.8 years average tenure).

BTB Real Estate Investment Trust Management

Management criteria checks 3/4

Key information

Recent management updates

BTB Real Estate Investment Trust Appoints Marc-André Lefebvre as Chief Financial Officer, Effective May 27, 2024

BTB Real Estate Investment Trust, Annual General Meeting, Jun 20, 2024

President exercised options to buy CA$242k worth of stock.

President recently bought CA$96k worth of stock

BTB Real Estate Investment Trust Announces Resignation of Mathieu Bolté as Chief Financial Officer, Effective February 23, 2024

President exercised options to buy CA$59k worth of stock.

Recent updates

BTB Real Estate Investment Trust Appoints Marc-André Lefebvre as Chief Financial Officer, Effective May 27, 2024

BTB Real Estate Investment Trust, Annual General Meeting, Jun 20, 2024

Dividend of CA$0.025 announced

BTB Real Estate Investment Trust Announces Monthly Cash Distribution for the Month of April 2024, Payable on May 15, 2024

BTB Real Estate Investment Trust to Report Q1, 2024 Results on May 06, 2024

New minor risk - Shareholder dilution

Upcoming dividend of CA$0.025 per share

Dividend of CA$0.025 announced

BTB Real Estate Investment Trust Announces Cash Distribution for the Month of March 2024, Payable on April 15, 2024

An unknown buyer acquired Two office properties located at 32 and 50, Saint-Charles Street West, in Longueuil (Québec) from BTB Real Estate Investment Trust (TSX:BTB.UN) for $6.2 million.

Full year 2023 earnings released: FFO per share: CA$0.5 (vs CA$0.43 in FY 2022)

Upcoming dividend of CA$0.025 per share

Dividend of CA$0.025 announced

New minor risk - Shareholder dilution

BTB Real Estate Investment Trust Announces Distribution for the Month of February 2024, Payable on March 15, 2024

BTB Real Estate Investment Trust to Report Q4, 2023 Results on Feb 26, 2024

President exercised options to buy CA$242k worth of stock.

Upcoming dividend of CA$0.025 per share at 9.6% yield

New minor risk - Shareholder dilution

Price target decreased by 7.8% to CA$3.40

President recently bought CA$96k worth of stock

BTB Real Estate Investment Trust Announces Distribution for the Month of January 2024, Payable on February 15, 2024

BTB Real Estate Investment Trust Announces Resignation of Mathieu Bolté as Chief Financial Officer, Effective February 23, 2024

Upcoming dividend of CA$0.025 per share at 11% yield

BTB Real Estate Investment Trust Announces Distribution for the Month of December 2023, Payable on January 15, 2024

New minor risk - Shareholder dilution

President exercised options to buy CA$59k worth of stock.

Upcoming dividend of CA$0.025 per share at 10% yield

BTB Real Estate Investment Trust Announces Its Distribution for the Month of November 2023, Payable on December 15, 2023

Third quarter 2023 earnings released

Price target decreased by 7.2% to CA$3.69

Upcoming dividend of CA$0.025 per share at 10% yield

BTB Real Estate Investment Trust Announces Monthly Cash Distribution for the Month of October 2023, Payable on November 15, 2023

BTB Real Estate Investment Trust to Report Q3, 2023 Results on Nov 06, 2023

Upcoming dividend of CA$0.025 per share at 9.3% yield

BTB Real Estate Investment Trust Announces Monthly Cash Distribution for the Month of September 2023, Payable on October 16, 2023

New minor risk - Shareholder dilution

Upcoming dividend of CA$0.025 per share at 9.2% yield

New minor risk - Earnings quality

Second quarter 2023 earnings released

Upcoming dividend of CA$0.025 per share at 9.0% yield

BTB Real Estate Investment Trust Announces Monthly Cash Distribution for the Month of July 2023, Payable on August 15, 2023

BTB Real Estate Investment Trust to Report Q2, 2023 Results on Aug 07, 2023

Upcoming dividend of CA$0.025 per share at 9.8% yield

BTB Real Estate Investment Trust Appoints Armand Des Rosiers as New Trustee

Btb Real Estate Investment Trust Announces the Monthly Cash Distribution for the Month of June 2023, Payable on July 17, 2023

Upcoming dividend of CA$0.025 per share at 9.2% yield

Independent Vice Chairman of the Board recently bought CA$66k worth of stock

BTB Real Estate Investment Trust Distribution for the Month of May 2023, Payable on June 15, 2023

First quarter 2023 earnings released

Upcoming dividend of CA$0.025 per share at 8.8% yield

Now 21% undervalued after recent price drop

Upcoming dividend of CA$0.025 per share at 8.6% yield

Now 21% undervalued

Full year 2022 earnings released

Upcoming dividend of CA$0.025 per share at 7.8% yield

Insufficient new directors

BTB Real Estate Investment Trust Announces Dividend for the Month of February 2023, Payable on March 15, 2023

BTB Real Estate Investment Trust Announces Cessation of Daniel Fournier from the Board of Trustees

BTB Real Estate Investment Trust (TSX:BTB.UN) acquired Class-A Industrial Property in the Mirabel, QC for CAD 28 million.

Now 20% undervalued

Upcoming dividend of CA$0.025 per share

BTB Real Estate Investment Trust to Report Q4, 2022 Results on Feb 27, 2023

BTB Real Estate Investment Trust Announces Cash Distribution for the Month of January 2023, Payable on February 15, 2023

BTB Real Estate Investment Trust Announces the Departure of Peter Picciola, Chief Investment Officer

Upcoming dividend of CA$0.025 per share

An unknown buyer acquired Office property located in Montréal, Québec from BTB Real Estate Investment Trust (TSX:BTB.UN) for CAD 5.9 million.

Btb Real Estate Investment Trust Announces Its Distribution for the Month of December 2022, Payable on January 16 , 2023

An unknown buyer acquired Office property located in Sainte-Thérèse, Québec from BTB Real Estate Investment Trust (TSX:BTB.UN) for approximately CAD 5 million.