CRT.

CT Real Estate Investment TrustTSX:CRT.UN Stock Report

Market Cap

CA$4.2b

7D

2.2%

1Y

28.0%

Updated

18 Sep, 2021

Data

Company Financials +
CRT.UN fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance4/6
Financial Health2/6
Dividends4/6

CRT.UN Overview

CT Real Estate Investment Trust (TSX:CRT.UN) is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties primarily located in Canada.

CT Real Estate Investment Trust Competitors

Price History & Performance

Summary of all time highs, changes and price drops for CT Real Estate Investment Trust
Historical stock prices
Current Share PriceCA$17.95
52 Week HighCA$13.45
52 Week LowCA$18.05
Beta0.99
1 Month Change2.75%
3 Month Change6.34%
1 Year Change28.03%
3 Year Change38.29%
5 Year Change18.64%
Change since IPO78.43%

Recent News & Updates

Shareholder Returns

CRT.UNCA REITsCA Market
7D2.2%0.5%-0.6%
1Y28.0%33.8%28.9%

Return vs Industry: CRT.UN underperformed the Canadian REITs industry which returned 33.8% over the past year.

Return vs Market: CRT.UN underperformed the Canadian Market which returned 29% over the past year.

Price Volatility

Is CRT.UN's price volatile compared to industry and market?
CRT.UN volatility
CRT.UN Beta0.99
Industry Beta1.03
Market Beta1

Stable Share Price: CRT.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: CRT.UN's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a39Ken Silverhttps://www.ctreit.com

CT Real Estate Investment Trust (TSX:CRT UN) is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties primarily located in Canada. Its portfolio is comprised of over 350 properties totaling approximately 29 million square feet of GLA, consisting primarily of net leased single-tenant retail properties located across Canada.

CT Real Estate Investment Trust Fundamentals Summary

How do CT Real Estate Investment Trust's earnings and revenue compare to its market cap?
CRT.UN fundamental statistics
Market CapCA$4.16b
Earnings (TTM)CA$151.05m
Revenue (TTM)CA$509.47m

27.6x

P/E Ratio

8.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CRT.UN income statement (TTM)
RevenueCA$509.47m
Cost of RevenueCA$110.28m
Gross ProfitCA$399.19m
ExpensesCA$248.14m
EarningsCA$151.05m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.66
Gross Margin78.35%
Net Profit Margin29.65%
Debt/Equity Ratio74.0%

How did CRT.UN perform over the long term?

See historical performance and comparison

Dividends

4.7%

Current Dividend Yield

24%

Payout Ratio

Valuation

Is CT Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

41.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CRT.UN (CA$17.95) is trading below our estimate of fair value (CA$30.83)

Significantly Below Fair Value: CRT.UN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CRT.UN is poor value based on its PE Ratio (27.6x) compared to the Canadian REITs industry average (10.1x).

PE vs Market: CRT.UN is poor value based on its PE Ratio (27.6x) compared to the Canadian market (12.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CRT.UN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CRT.UN is overvalued based on its PB Ratio (2.7x) compared to the CA REITs industry average (1.1x).


Future Growth

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

3.3%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if CRT.UN's forecast earnings growth is above the savings rate (1.5%).

Earnings vs Market: Insufficient data to determine if CRT.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: CRT.UN's revenue (3.3% per year) is forecast to grow slower than the Canadian market (6.1% per year).

High Growth Revenue: CRT.UN's revenue (3.3% 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 CRT.UN's Return on Equity is forecast to be high in 3 years time


Past Performance

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

-0.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRT.UN has high quality earnings.

Growing Profit Margin: CRT.UN's current net profit margins (29.6%) are higher than last year (23.8%).


Past Earnings Growth Analysis

Earnings Trend: CRT.UN's earnings have declined by 0.7% per year over the past 5 years.

Accelerating Growth: CRT.UN's earnings growth over the past year (27.4%) exceeds its 5-year average (-0.7% per year).

Earnings vs Industry: CRT.UN earnings growth over the past year (27.4%) exceeded the REITs industry 5.5%.


Return on Equity

High ROE: CRT.UN's Return on Equity (9.3%) is considered low.


Financial Health

How is CT Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: CRT.UN's short term assets (CA$22.5M) do not cover its short term liabilities (CA$258.3M).

Long Term Liabilities: CRT.UN's short term assets (CA$22.5M) do not cover its long term liabilities (CA$2.5B).


Debt to Equity History and Analysis

Debt Level: CRT.UN's debt to equity ratio (74%) is considered high.

Reducing Debt: CRT.UN's debt to equity ratio has reduced from 90.7% to 74% over the past 5 years.

Debt Coverage: CRT.UN's debt is not well covered by operating cash flow (14.1%).

Interest Coverage: CRT.UN's interest payments on its debt are well covered by EBIT (3.6x coverage).


Balance Sheet


Dividend

What is CT Real Estate Investment Trust current dividend yield, its reliability and sustainability?

4.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CRT.UN's dividend (4.68%) is higher than the bottom 25% of dividend payers in the Canadian market (1.64%).

High Dividend: CRT.UN's dividend (4.68%) is in the top 25% of dividend payers in the Canadian market (4.51%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CRT.UN has been paying a dividend for less than 10 years.

Growing Dividend: CRT.UN's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.8%), CRT.UN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CRT.UN's dividends in 3 years are forecast to be covered by earnings (66.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Ken Silver (62 yo)

7.92yrs

Tenure

CA$1,805,171

Compensation

Mr. Kenneth Silver, also known as Ken, has been the Chief Executive Officer of CT Real Estate Investment Trust (REIT) since October 23, 2013 and served as its President since October 23, 2013 until March 0...


CEO Compensation Analysis

Compensation vs Market: Ken's total compensation ($USD1.42M) is below average for companies of similar size in the Canadian market ($USD2.93M).

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


Leadership Team

Experienced Management: CRT.UN's management team is considered experienced (2.9 years average tenure).


Board Members

Experienced Board: CRT.UN's board of directors are considered experienced (8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

CT Real Estate Investment Trust's employee growth, exchange listings and data sources


Key Information

  • Name: CT Real Estate Investment Trust
  • Ticker: CRT.UN
  • Exchange: TSX
  • Founded: NaN
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: CA$4.165b
  • Shares outstanding: 232.01m
  • Website: https://www.ctreit.com

Number of Employees


Location

  • CT Real Estate Investment Trust
  • 2180 Yonge Street
  • P.O. Box 770, Station K
  • Toronto
  • Ontario
  • M4P 2V8
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/18 22:12
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.