Loading...

Crombie Real Estate Investment Trust

TSX:CRR.UN
Snowflake Description

Established dividend payer and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CRR.UN
TSX
CA$2B
Market Cap
  1. Home
  2. CA
  3. Real Estate
Company description

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
CRR.UN Share Price and Events
7 Day Returns
1%
TSX:CRR.UN
0.3%
CA REITs
0.3%
CA Market
1 Year Returns
12.1%
TSX:CRR.UN
12.4%
CA REITs
0.7%
CA Market
CRR.UN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Crombie Real Estate Investment Trust (CRR.UN) 1% 3.6% 13.9% 12.1% 2.6% 8.1%
CA REITs 0.3% 2.6% 11.6% 12.4% 15.4% 18.5%
CA Market 0.3% 2% 13.2% 0.7% 16.6% 5.6%
1 Year Return vs Industry and Market
  • CRR.UN outperformed the Market in Canada which returned 0.7% over the past year.

Value

 Is Crombie Real Estate Investment Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Crombie Real Estate Investment Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Crombie Real Estate Investment Trust.

TSX:CRR.UN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:CRR.UN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.362 (1 + (1- 26.5%) (114.84%))
0.777
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.8 * 5.96%)
6.72%

Discounted Cash Flow Calculation for TSX:CRR.UN using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Crombie Real Estate Investment Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Crombie Real Estate Investment Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

TSX:CRR.UN DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (CAD, Millions) Source Present Value
Discounted (@ 6.72%)
2019 153.17 Analyst x3 143.53
2020 158.03 Analyst x3 138.77
2021 160.89 Est @ 1.8% 132.39
2022 163.86 Est @ 1.85% 126.35
2023 166.93 Est @ 1.88% 120.62
2024 170.10 Est @ 1.9% 115.17
2025 173.36 Est @ 1.91% 109.99
2026 176.69 Est @ 1.92% 105.05
2027 180.10 Est @ 1.93% 100.34
2028 183.59 Est @ 1.94% 95.85
Present value of next 10 years cash flows CA$1,188.06
TSX:CRR.UN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$183.59 × (1 + 1.95%) ÷ (6.72% – 1.95%)
CA$3,925.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$3,925.33 ÷ (1 + 6.72%)10
CA$2,049.37
TSX:CRR.UN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$1,188.06 + CA$2,049.37
CA$3,237.43
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$3,237.43 / 151.60
CA$21.36
TSX:CRR.UN Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$21.36
Current discount Discount to share price of CA$14.24
= -1 x (CA$14.24 - CA$21.36) / CA$21.36
33.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Crombie Real Estate Investment Trust is available for.
Intrinsic value
33%
Share price is CA$14.24 vs Future cash flow value of CA$21.36
Current Discount Checks
For Crombie Real Estate Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Crombie Real Estate Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Crombie Real Estate Investment Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Crombie Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Crombie Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CRR.UN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CAD CA$0.71
TSX:CRR.UN Share Price ** TSX (2019-03-20) in CAD CA$14.24
Canada REITs Industry PE Ratio Median Figure of 42 Publicly-Listed REITs Companies 8.4x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.78x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Crombie Real Estate Investment Trust.

TSX:CRR.UN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:CRR.UN Share Price ÷ EPS (both in CAD)

= 14.24 ÷ 0.71

20.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crombie Real Estate Investment Trust is overvalued based on earnings compared to the CA REITs industry average.
  • Crombie Real Estate Investment Trust is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Crombie Real Estate Investment Trust's expected growth come at a high price?
Raw Data
TSX:CRR.UN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
10.7%per year
North America REITs Industry PEG Ratio Median Figure of 140 Publicly-Listed REITs Companies -0.24x
Canada Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Crombie Real Estate Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Crombie Real Estate Investment Trust's assets?
Raw Data
TSX:CRR.UN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CAD CA$9.52
TSX:CRR.UN Share Price * TSX (2019-03-20) in CAD CA$14.24
Canada REITs Industry PB Ratio Median Figure of 43 Publicly-Listed REITs Companies 0.97x
Canada Market PB Ratio Median Figure of 2,349 Publicly-Listed Companies 1.58x
TSX:CRR.UN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:CRR.UN Share Price ÷ Book Value per Share (both in CAD)

= 14.24 ÷ 9.52

1.5x

* Primary Listing of Crombie Real Estate Investment Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crombie Real Estate Investment Trust is overvalued based on assets compared to the CA REITs industry average.
X
Value checks
We assess Crombie Real Estate Investment Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Crombie Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Crombie Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

  • No analysts cover Crombie Real Estate Investment Trust, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Crombie Real Estate Investment Trust expected to grow at an attractive rate?
  • Crombie Real Estate Investment Trust's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Crombie Real Estate Investment Trust's earnings growth is positive but not above the Canada market average.
  • Crombie Real Estate Investment Trust's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:CRR.UN Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:CRR.UN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 10.7%
TSX:CRR.UN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 1.3%
Canada REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.7%
Canada REITs Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:CRR.UN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:CRR.UN Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 426 3
2019-12-31 413 2
TSX:CRR.UN Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-12-31 415 54 107
2018-09-30 416 65 114
2018-06-30 418 77 123
2018-03-31 415 85 170
2017-12-31 412 91 164
2017-09-30 411 86 168
2017-06-30 408 86 170
2017-03-31 407 94 101
2016-12-31 400 67 125
2016-09-30 388 69 108
2016-06-30 378 49 102
2016-03-31 372 35 92

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Crombie Real Estate Investment Trust's earnings are expected to grow by 10.7% yearly, however this is not considered high growth (20% yearly).
  • Crombie Real Estate Investment Trust's revenue is expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:CRR.UN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Crombie Real Estate Investment Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CRR.UN Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
TSX:CRR.UN Past Financials Data
Date (Data in CAD Millions) EPS *
2018-12-31 0.71
2018-09-30 0.76
2018-06-30 0.82
2018-03-31 1.13
2017-12-31 1.09
2017-09-30 1.13
2017-06-30 1.15
2017-03-31 0.70
2016-12-31 0.89
2016-09-30 0.79
2016-06-30 0.78
2016-03-31 0.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Crombie Real Estate Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Crombie Real Estate Investment Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Crombie Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Crombie Real Estate Investment Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Crombie Real Estate Investment Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Crombie Real Estate Investment Trust has delivered over 20% year on year earnings growth in the past 5 years.
  • Crombie Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Crombie Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the CA REITs industry average.
Earnings and Revenue History
Crombie Real Estate Investment Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Crombie Real Estate Investment Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CRR.UN Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 414.90 107.41 19.23
2018-09-30 416.16 114.34 17.23
2018-06-30 418.05 122.85 16.98
2018-03-31 415.48 170.16 17.51
2017-12-31 411.87 163.70 18.02
2017-09-30 411.48 168.13 19.10
2017-06-30 407.78 169.93 17.97
2017-03-31 407.19 100.80 16.93
2016-12-31 400.00 125.13 16.34
2016-09-30 387.58 107.60 15.62
2016-06-30 378.43 102.40 15.99
2016-03-31 372.31 92.35 15.33
2015-12-31 369.87 65.73 14.40
2015-09-30 367.62 74.01 14.24
2015-06-30 365.81 72.34 13.85
2015-03-31 359.91 72.19 14.47
2014-12-31 358.32 71.39 14.75
2014-09-30 351.75 48.67 15.61
2014-06-30 335.11 43.91 14.93
2014-03-31 317.37 39.49 14.22
2013-12-31 297.04 36.55 13.67
2013-09-30 281.48 48.87 13.09
2013-06-30 274.78 45.28 12.89
2013-03-31 267.16 43.13 12.22
2012-12-31 256.02 39.74 11.53
2012-09-30 246.23 38.58 10.67
2012-06-30 236.56 39.76 10.50
2012-03-31 229.27 38.45 10.67

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Crombie Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Crombie Real Estate Investment Trust used its assets less efficiently than the CA REITs industry average last year based on Return on Assets.
  • Crombie Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Crombie Real Estate Investment Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Crombie Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Crombie Real Estate Investment Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Crombie Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Crombie Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Crombie Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Crombie Real Estate Investment Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Crombie Real Estate Investment Trust Company Filings, last reported 2 months ago.

TSX:CRR.UN Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,442.84 2,479.14 2.84
2018-09-30 1,457.23 2,462.76 5.33
2018-06-30 1,475.56 2,451.85 4.12
2018-03-31 1,455.59 2,466.50 3.83
2017-12-31 1,457.26 2,501.75 3.20
2017-09-30 1,456.69 2,513.18 2.87
2017-06-30 1,457.32 2,421.05
2017-03-31 1,384.01 2,386.92
2016-12-31 1,390.15 2,396.20
2016-09-30 1,385.07 2,389.66
2016-06-30 1,387.88 2,386.21
2016-03-31 1,166.62 2,038.75
2015-12-31 1,147.23 2,170.80 1.06
2015-09-30 1,153.31 2,110.96
2015-06-30 1,164.39 2,100.96
2015-03-31 1,173.20 2,082.92
2014-12-31 1,183.31 2,073.35 0.61
2014-09-30 1,186.13 1,983.83
2014-06-30 1,200.99 1,994.22
2014-03-31 1,114.26 2,052.81 1.12
2013-12-31 1,124.30 2,043.09 7.17
2013-09-30 774.75 1,425.69
2013-06-30 774.56 1,387.33
2013-03-31 778.16 1,354.37 0.39
2012-12-31 782.00 1,185.94
2012-09-30 734.07 1,188.18
2012-06-30 715.73 1,187.63 0.14
2012-03-31 694.67 995.57 82.79
  • Crombie Real Estate Investment Trust's level of debt (171.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (181.7% vs 171.8% today).
  • Debt is not well covered by operating cash flow (2.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Crombie Real Estate Investment Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Crombie Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Crombie Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.25%
Current annual income from Crombie Real Estate Investment Trust dividends. Estimated to be 6.25% next year.
If you bought CA$2,000 of Crombie Real Estate Investment Trust shares you are expected to receive CA$125 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Crombie Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.02%).
  • Crombie Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in Canada (5.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:CRR.UN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Canada REITs Industry Average Dividend Yield Market Cap Weighted Average of 42 Stocks 5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:CRR.UN Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.89 6.00
2019-12-31 0.89 6.00
TSX:CRR.UN Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-03-19 0.890 6.277
2019-02-19 0.890 6.343
2018-12-17 0.890 6.745
2018-11-20 0.890 6.880
2018-10-19 0.890 6.764
2018-08-20 0.890 6.768
2018-07-20 0.890 6.774
2018-06-19 0.890 6.851
2018-05-22 0.890 6.944
2018-04-19 0.890 7.163
2018-03-19 0.890 7.093
2018-02-16 0.890 6.905
2018-01-19 0.890 6.726
2017-12-15 0.890 6.527
2017-11-20 0.890 6.425
2017-10-19 0.890 6.557
2017-09-19 0.890 6.575
2017-08-21 0.890 6.626
2017-07-19 0.890 6.576
2017-06-19 0.890 6.372
2017-05-18 0.890 6.187
2017-04-19 0.890 6.176
2017-03-22 0.890 6.274
2017-02-16 0.890 6.501
2017-01-20 0.890 6.599
2016-12-16 0.890 6.573
2016-11-21 0.890 6.491
2016-10-18 0.890 6.564
2016-09-21 0.890 6.304
2016-08-19 0.890 5.888
2016-07-19 0.890 5.747
2016-06-20 0.890 5.790
2016-05-18 0.890 5.976
2016-04-19 0.890 6.218
2016-03-21 0.890 6.342
2016-02-17 0.890 6.583
2016-01-20 0.890 6.840
2015-12-16 0.890 6.967
2015-11-18 0.890 6.957
2015-10-21 0.890 6.877
2015-09-21 0.890 6.871
2015-08-19 0.890 6.959
2015-07-22 0.890 6.965
2015-06-18 0.890 7.012
2015-05-20 0.890 7.064
2015-03-19 0.890 6.701
2015-02-18 0.890 6.657
2015-01-20 0.890 6.647
2014-12-17 0.890 6.841
2014-11-18 0.890 6.975
2014-10-22 0.890 6.832
2014-09-18 0.890 6.872
2014-08-19 0.890 6.707
2014-07-22 0.890 6.641
2014-06-19 0.890 6.650
2014-05-21 0.890 6.685
2014-04-17 0.890 6.609
2014-03-20 0.890 6.724
2014-02-18 0.890 6.683
2014-01-21 0.890 6.723
2013-12-16 0.890 6.566
2013-11-20 0.890 6.699
2013-10-21 0.890 6.726
2013-09-17 0.890 6.877
2013-08-20 0.890 6.975
2013-07-18 0.890 6.706
2013-06-19 0.890 6.588
2013-05-21 0.890 5.980
2013-04-18 0.890 5.774
2013-03-19 0.890 5.985
2013-02-19 0.890 6.067
2013-01-21 0.890 6.058
2012-12-18 0.890 6.033
2012-11-19 0.890 5.991
2012-10-19 0.890 5.953
2012-09-18 0.890 5.845
2012-08-21 0.890 5.848
2012-07-18 0.890 5.895
2012-06-18 0.890 6.069
2012-05-17 0.890 6.204
2012-04-19 0.890 6.268
2012-03-20 0.890 6.364
2012-02-17 0.890 6.210
2012-01-19 0.890 6.251
2011-12-19 0.890 6.431
2011-11-18 0.890 6.711
2011-10-20 0.890 6.745
2011-09-19 0.890 6.942
2011-08-19 0.890 6.902
2011-07-20 0.890 6.955
2011-06-20 0.890 6.728
2011-05-18 0.890 6.814
2011-04-19 0.890 6.813
2011-03-22 0.890 6.964
2011-02-16 0.890 6.955
2011-01-20 0.890 6.925
2010-12-20 0.890 7.034
2010-11-18 0.890 7.106
2010-10-20 0.890 7.066
2010-09-20 0.890 7.028
2010-08-18 0.890 7.512
2010-07-21 0.890 7.865
2010-06-18 0.890 7.870
2010-05-19 0.890 7.863
2010-04-21 0.890 7.656
2010-03-23 0.890 7.498
2010-02-18 0.890 7.806
2010-01-21 0.890 7.930
2009-12-17 0.890 8.207
2009-11-20 0.890 8.798
2009-10-22 0.890 8.511
2009-09-22 0.890 8.502
2009-08-20 0.890 9.525
2009-07-22 0.890 9.878
2009-06-22 0.890 10.814
2009-05-21 0.890 11.012
2009-04-22 0.890 12.225
2009-03-23 0.890 12.947

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Crombie Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (212.3x coverage).
X
Income/ dividend checks
We assess Crombie Real Estate Investment Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Crombie Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Crombie Real Estate Investment Trust has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Crombie Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Don Clow
COMPENSATION CA$2,231,715
AGE 56
TENURE AS CEO 9.6 years
CEO Bio

Mr. Donald E. Clow, also known as Don, FCPA, FCA, has been the President and the Chief Executive Officer of Crombie Real Estate Investment Trust since August 6, 2009. Mr. Clow served as the President at ECL Developments Limited, a real estate development subsidiary of Empire Company Limited. He held various executive positions with Southwest Properties Group of Companies in Halifax evolving to the position of President and Chief Operating Officer, a position he held for seven years. He has been a Director of Granite REIT Inc. since November 22, 2016. He has been a Trustee of Crombie Real Estate Investment Trust since August 6, 2009. He has been an Independent Trustee at Granite Real Estate Investment Trust since November 22, 2016. Mr. Clow serves on the Board of Governors of Acadia University, the Board of Directors for REALpac, the BOMA National Advisory Board and the ICSC Foundation Canada. He is a Member of World President' Organization (WPO). Mr. Clow earned his CA designation with KPMG and was designated a Fellow Chartered Accountant in 2002. Mr. Clow is a graduate of the YPO President’s Program at Harvard Business School and the Director’s Education Program at the Rotman School of Business receiving the ICD.D designation in 2014.

CEO Compensation
  • Don's compensation has been consistent with company performance over the past year.
  • Don's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Crombie Real Estate Investment Trust management team in years:

2.5
Average Tenure
55
Average Age
  • The tenure for the Crombie Real Estate Investment Trust management team is about average.
Management Team

Don Clow

TITLE
President
COMPENSATION
CA$2M
AGE
56
TENURE
9.6 yrs

Glenn Hynes

TITLE
Executive VP
COMPENSATION
CA$1M
AGE
55
TENURE
8.8 yrs

John Barnoski

TITLE
Senior Vice President of Corporate Development
COMPENSATION
CA$597K
AGE
45
TENURE
2.5 yrs

Trevor Lee

TITLE
Senior VP of Development & Construction
COMPENSATION
CA$526K
AGE
50
TENURE
2.5 yrs

Ken Turple

TITLE
Vice President of Accounting & Financial Reporting

Fred Santini

TITLE
General Counsel
TENURE
2.5 yrs

Cheryl Fraser

TITLE
Chief Talent Officer & VP of Communications
COMPENSATION
CA$363K
AGE
60
TENURE
2.5 yrs

Toran Eggert

TITLE
Executive Vice President of Portfolio Management

Brady Landry

TITLE
Vice President of Financial Analysis & Treasury

Jeff Downs

TITLE
Vice President of Enterprise Information Systems
Board of Directors Tenure

Average tenure and age of the Crombie Real Estate Investment Trust board of directors in years:

10.3
Average Tenure
65.5
Average Age
  • The average tenure for the Crombie Real Estate Investment Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Frank Sobey

TITLE
Chairman of the Board
COMPENSATION
CA$110K
AGE
65
TENURE
13.1 yrs

Don Clow

TITLE
President
COMPENSATION
CA$2M
AGE
56
TENURE
9.6 yrs

Elisabeth Stroback

TITLE
Independent Trustee
COMPENSATION
CA$102K
AGE
66
TENURE
13.1 yrs

Brian Johnson

TITLE
Independent Trustee
COMPENSATION
CA$101K
AGE
74
TENURE
10.3 yrs

Mike Knowlton

TITLE
Independent Trustee
COMPENSATION
CA$109K
AGE
67
TENURE
7.8 yrs

Barb Palk

TITLE
Independent Trustee
COMPENSATION
CA$103K
AGE
66
TENURE
4.8 yrs

John Eby

TITLE
Lead Independent Trustee
COMPENSATION
CA$111K
AGE
66
TENURE
7.8 yrs

Paul Sobey

TITLE
COMPENSATION
CA$89K
AGE
61
TENURE
13.1 yrs

Paul Beesley

TITLE
COMPENSATION
CA$62K
AGE
60

Kent Sobey

TITLE
Independent Trustee
COMPENSATION
CA$84K
AGE
41
TENURE
10.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
03. Apr 18 Buy James Dickson Individual 29. Mar 18 29. Mar 18 5,449 CA$12.66 CA$69,005
12. Jun 18 Buy PDS Holdings Limited Company 11. Jun 18 11. Jun 18 15,000 CA$12.86 CA$192,847
X
Management checks
We assess Crombie Real Estate Investment Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Crombie Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Many Crombie Real Estate Investment Trust (TSE:CRR.UN) Shares Do Institutions Own?

Every investor in Crombie Real Estate Investment Trust (TSE:CRR.UN) should be aware of the most powerful shareholder groups. … Crombie Real Estate Investment Trust has a market capitalization of CA$2.1b, so we would expect some institutional investors to have noticed the stock. … institutional investors have bought into the company.

Simply Wall St -

Why You Shouldn't Look At Crombie Real Estate Investment Trust's (TSE:CRR.UN) Bottom Line

Crombie Real Estate Investment Trust is a CA$2.1b. … real estate investment trust (REIT) based in New Glasgow, Canada. … See our latest analysis for Crombie Real Estate Investment Trust

Simply Wall St -

Does Crombie Real Estate Investment Trust's (TSE:CRR.UN) CEO Pay Reflect Performance?

Don Clow became the CEO of Crombie Real Estate Investment Trust (TSE:CRR.UN) in 2009. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for Crombie Real Estate Investment Trust?

Simply Wall St -

Is Crombie Real Estate Investment Trust's (TSE:CRR.UN) ROE Of 7.8% Concerning?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Crombie Real Estate Investment Trust (TSE:CRR.UN). … Our data shows Crombie Real Estate Investment Trust has a return on equity of 7.8% for the last year. … See our latest analysis for Crombie Real Estate Investment Trust?

Simply Wall St -

One Metric To Rule Them All: Crombie Real Estate Investment Trust (TSE:CRR.UN)

Crombie Real Estate Investment Trust is a CA$1.97b. … real estate investment trust (REIT) based in New Glasgow, Canada. … See our latest analysis for Crombie Real Estate Investment Trust

Simply Wall St -

Who Are Crombie Real Estate Investment Trust's (TSE:CRR.UN) Major Shareholders?

This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … Private Company Ownership Potential investors in CRR.UN should also look at another important group of investors: private companies, with a stake of 0.024%, who are primarily invested because of strategic and capital gain interests. … Thus, investors not need worry too much about the consequences of these holdings.Next Steps: CRR.UN's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

Interested In Crombie Real Estate Investment Trust (TSE:CRR.UN)’s Upcoming $0.07 Dividend? You Have 3 Days Left

View our latest analysis for Crombie Real Estate Investment Trust Here's how I find good dividend stocks When researching a dividend stock, I always follow the following screening criteria: Is its annual yield among the top 25% of dividend payers? … TSX:CRR.UN Historical Dividend Yield Apr 23rd 18 How well does Crombie Real Estate Investment Trust fit our criteria? … Compared to its peers, Crombie Real Estate Investment Trust produces a yield of 7.17%, which is high for REITs stocks.

Simply Wall St -

Is It Time To Buy Crombie Real Estate Investment Trust (TSE:CRR.UN)?

Crombie Real Estate Investment Trust (TSX:CRR.UN), a reits company based in Canada, had a relatively subdued couple of weeks in terms of changes in share price, which continued to float around the range of CA$12.46 to CA$13.64. … Let’s take a look at Crombie Real Estate Investment Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … What’s more interesting is that, Crombie Real Estate Investment Trust’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value.

Simply Wall St -

Why Crombie Real Estate Investment Trust (TSE:CRR.UN) Is A Top Dividend Stocks

There is a lot to be liked about Crombie Real Estate Investment Trust (TSX:CRR.UN) as an income stock, over the past 10 years it has returned an average of 7.00% per year. … Check out our latest analysis for Crombie Real Estate Investment Trust 5 checks you should use to assess a dividend stock When researching a dividend stock, I always follow the following screening criteria: Does it pay an annual yield higher than 75% of dividend payers? … TSX:CRR.UN Historical Dividend Yield Mar 30th 18 How does Crombie Real Estate Investment Trust fare?

Simply Wall St -

Investing In Crombie Real Estate Investment Trust (TSE:CRR.UN): What You Need To Know

Crombie Real Estate Investment Trust is a CA$1.93B small-cap real estate investment trust (REIT) based in New Glasgow, Canada. … See our latest analysis for Crombie Real Estate Investment Trust Funds from Operations (FFO) is a higher quality measure of CRR.UN's earnings compared to net income. … Crombie Real Estate Investment Trust can bring about diversification for your portfolio, but before you decide to invest, take a look at the other aspects you must consider before investing: Valuation: What is CRR.UN worth today?

Simply Wall St -

Company Info

Description

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.

Details
Name: Crombie Real Estate Investment Trust
CRR.UN
Exchange: TSX
Founded: 2006
CA$2,158,778,773
151,599,633
Website: http://www.crombiereit.com
Address: Crombie Real Estate Investment Trust
610 East River Road,
Suite 200,
New Glasgow,
Nova Scotia, B2H 3S2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CRR.UN Ordinary Units The Toronto Stock Exchange CA CAD 23. Mar 2006
OTCPK CROM.F Ordinary Units Pink Sheets LLC US USD 23. Mar 2006
Number of employees
Current staff
Staff numbers
330
Crombie Real Estate Investment Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 00:06
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/04
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.