Crombie Real Estate Investment Trust
Market Cap
CA$2.1b
Last Updated
2020/10/20 00:45 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and slightly overvalued.
Share Price & News
How has Crombie Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CRR.UN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.6%
CRR.UN
-1.9%
CA REITs
-1.2%
CA Market
1 Year Return
-17.8%
CRR.UN
-26.0%
CA REITs
-4.5%
CA Market
Return vs Industry: CRR.UN exceeded the Canadian REITs industry which returned -25.5% over the past year.
Return vs Market: CRR.UN underperformed the Canadian Market which returned -3.8% over the past year.
Shareholder returns
| CRR.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.6% | -1.9% | -1.2% |
| 30 Day | -0.08% | -2.4% | -0.03% |
| 90 Day | 0.9% | -2.7% | 0.9% |
| 1 Year | -11.8%-17.8% | -21.8%-26.0% | -1.0%-4.5% |
| 3 Year | 19.9%-1.9% | 1.9%-13.7% | 6.4%-4.0% |
| 5 Year | 39.5%0.5% | 22.8%-7.5% | 34.5%13.8% |
Price Volatility Vs. Market
How volatile is Crombie Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Crombie Real Estate Investment Trust's (TSE:CRR.UN) Stock Price Has Reduced 17% In The Past Year2 months ago | Simply Wall St
What We Learned About Crombie Real Estate Investment Trust's (TSE:CRR.UN) CEO Pay3 months ago | Simply Wall St
Can Crombie Real Estate Investment Trust (TSE:CRR.UN) Improve Its Returns?Valuation
Is Crombie Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
44.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CRR.UN (CA$13.19) is trading below our estimate of fair value (CA$23.56)
Significantly Below Fair Value: CRR.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CRR.UN is poor value based on its PE Ratio (19.4x) compared to the CA REITs industry average (7.6x).
PE vs Market: CRR.UN is poor value based on its PE Ratio (19.4x) compared to the Canadian market (16.3x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CRR.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CRR.UN is overvalued based on its PB Ratio (1.4x) compared to the CA REITs industry average (0.8x).
Next Steps
Future Growth
How is Crombie Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
3.6%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if CRR.UN's forecast earnings growth is above the savings rate (1.7%).
Earnings vs Market: Insufficient data to determine if CRR.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CRR.UN's revenue (3.6% per year) is forecast to grow slower than the Canadian market (5.8% per year).
High Growth Revenue: CRR.UN's revenue (3.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CRR.UN's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Crombie Real Estate Investment Trust performed over the past 5 years?
8.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CRR.UN has a large one-off gain of CA$28.1M impacting its June 30 2020 financial results.
Growing Profit Margin: CRR.UN's current net profit margins (26.7%) are lower than last year (29.5%).
Past Earnings Growth Analysis
Earnings Trend: CRR.UN's earnings have grown by 8.8% per year over the past 5 years.
Accelerating Growth: CRR.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CRR.UN had negative earnings growth (-13.1%) over the past year, making it difficult to compare to the REITs industry average (15.1%).
Return on Equity
High ROE: CRR.UN's Return on Equity (6.9%) is considered low.
Next Steps
Financial Health
How is Crombie Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: CRR.UN's short term assets (CA$65.0M) do not cover its short term liabilities (CA$560.7M).
Long Term Liabilities: CRR.UN's short term assets (CA$65.0M) do not cover its long term liabilities (CA$1.9B).
Debt to Equity History and Analysis
Debt Level: CRR.UN's debt to equity ratio (152.6%) is considered high.
Reducing Debt: CRR.UN's debt to equity ratio has reduced from 180.5% to 152.6% over the past 5 years.
Debt Coverage: CRR.UN's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: CRR.UN's interest payments on its debt are not well covered by EBIT (1.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Crombie Real Estate Investment Trust current dividend yield, its reliability and sustainability?
6.75%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CRR.UN's dividend (6.75%) is higher than the bottom 25% of dividend payers in the Canadian market (1.69%).
High Dividend: CRR.UN's dividend (6.75%) is in the top 25% of dividend payers in the Canadian market (5.85%)
Stability and Growth of Payments
Stable Dividend: CRR.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: CRR.UN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (130.1%), CRR.UN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CRR.UN's dividends in 3 years are forecast to be covered by earnings (77.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.1yrs
Average management tenure
CEO
Don Clow (58 yo)
11.17yrs
Tenure
CA$2,697,697
Compensation
Mr. Donald E. Clow, also known as Don, FCPA, FCA, has been the President and the Chief Executive Officer of Crombie Real Estate Investment Trust since August 6, 2009. Mr. Clow served as the President at EC ...
CEO Compensation Analysis
Compensation vs Market: Don's total compensation ($USD2.05M) is about average for companies of similar size in the Canadian market ($USD2.06M).
Compensation vs Earnings: Don's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 11.17yrs | CA$2.70m | 0.098% CA$ 2.0m | |
| CFO & Secretary | 1.42yrs | CA$1.02m | 0.013% CA$ 263.8k | |
| COO & Executive VP | 1.92yrs | CA$1.45m | 0.088% CA$ 1.8m | |
| Chief Talent Officer & VP of Communications | 4.08yrs | CA$629.49k | 0.000010% CA$ 208.7 | |
| Executive Vice President of Corporate Development | 4.08yrs | CA$728.95k | no data | |
| Vice President of Investments | no data | no data | no data | |
| Vice President of Accounting & Financial Reporting | no data | no data | no data | |
| Manager of Investor Relations | no data | no data | no data | |
| General Counsel | 4.08yrs | no data | no data | |
| Senior VP of Development & Construction | 4.08yrs | CA$566.74k | 0.0035% CA$ 72.8k | |
| Senior Vice President of Leasing & Operations | 1.75yrs | no data | no data | |
| Vice President of Financial Analysis & Treasury | no data | no data | no data |
4.1yrs
Average Tenure
56.5yo
Average Age
Experienced Management: CRR.UN's management team is considered experienced (4.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 11.17yrs | CA$2.70m | 0.098% CA$ 2.0m | |
| Lead Independent Trustee | 9.42yrs | CA$89.50k | 0.0093% CA$ 193.9k | |
| Independent Trustee | 14.67yrs | CA$84.00k | no data | |
| Independent Trustee | 1.67yrs | CA$101.50k | 0.011% CA$ 238.1k | |
| Independent Chairman of the Board | 1.42yrs | CA$154.50k | 0.026% CA$ 538.4k | |
| Independent Trustee | 3.33yrs | CA$88.50k | 0.015% CA$ 317.6k | |
| Independent Trustee | 0.42yr | no data | 0.013% CA$ 263.8k | |
| Independent Trustee | 6.42yrs | CA$101.00k | 0.010% CA$ 211.0k | |
| Independent Trustee | 4yrs | CA$104.00k | 0.039% CA$ 805.3k | |
| Independent Trustee | 1.42yrs | CA$50.00k | no data |
3.7yrs
Average Tenure
62yo
Average Age
Experienced Board: CRR.UN's board of directors are considered experienced (3.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CRR.UN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.3%.
Top Shareholders
Company Information
Crombie Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Crombie Real Estate Investment Trust
- Ticker: CRR.UN
- Exchange: TSX
- Founded: 2006
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: CA$2.087b
- Shares outstanding: 158.20m
- Website: https://www.crombiereit.com
Number of Employees
Location
- Crombie Real Estate Investment Trust
- 610 East River Road
- Suite 200
- New Glasgow
- Nova Scotia
- B2H 3S2
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CRR.UN | TSX (The Toronto Stock Exchange) | Yes | Ordinary Units | CA | CAD | Mar 2006 |
| CROM.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Units | US | USD | Mar 2006 |
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/20 00:45 |
| End of Day Share Price | 2020/10/19 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.