Pro Real Estate Investment Trust
Market Cap
CA$292.3m
Last Updated
2019/11/22 00:09 UTC
Data Sources
Company Financials +
Executive Summary
PROREIT (www.proreit.com) is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 91 commercial properties across Canada representing over 4.4 million square feet of GLA.
Snowflake
Fundamentals
Fair value second-rate dividend payer.
Share Price & News
How has Pro Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PRV.UN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.2%
PRV.UN
-0.1%
CA REITs
0.2%
CA Market
1 Year Return
11.2%
PRV.UN
14.7%
CA REITs
8.3%
CA Market
Return vs Industry: PRV.UN underperformed the Canadian REITs industry which returned 14.7% over the past year.
Return vs Market: PRV.UN exceeded the Canadian Market which returned 8.3% over the past year.
Shareholder returns
| PRV.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.2% | -0.1% | 0.2% |
| 30 Day | 1.9% | -0.2% | 3.0% |
| 90 Day | 6.1% | 3.6% | 5.0% |
| 1 Year | 22.0%11.2% | 20.8%14.7% | 11.9%8.3% |
| 3 Year | 54.3%16.5% | 45.7%22.7% | 16.8%6.3% |
| 5 Year | 76.2%8.7% | 62.0%21.3% | 29.5%10.5% |
Price Volatility Vs. Market
How volatile is Pro Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
We Wouldn't Be Too Quick To Buy Pro Real Estate Investment Trust (TSE:PRV.UN) Before It Goes Ex-Dividend1 month ago | Simply Wall St
Why Pro Real Estate Investment Trust's (TSE:PRV.UN) CEO Pay Matters To You2 months ago | Simply Wall St
Why I Like Pro Real Estate Investment Trust (TSE:PRV.UN)Valuation
Is Pro Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PRV.UN (CA$7.34) is trading below our estimate of fair value (CA$14.76)
Significantly Below Fair Value: PRV.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PRV.UN is poor value based on its PE Ratio (13.6x) compared to the REITs industry average (10.7x).
PE vs Market: PRV.UN is good value based on its PE Ratio (13.6x) compared to the Canadian market (14.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PRV.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PRV.UN is overvalued based on its PB Ratio (1.1x) compared to the CA REITs industry average (1.1x).
Next Steps
Future Growth
How is Pro Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
18.6%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if PRV.UN's forecast earnings growth is above the savings rate (1.9%).
Earnings vs Market: Insufficient data to determine if PRV.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: PRV.UN's revenue (18.6% per year) is forecast to grow faster than the Canadian market (4.8% per year).
High Growth Revenue: PRV.UN's revenue (18.6% 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 PRV.UN's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Pro Real Estate Investment Trust performed over the past 5 years?
32.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PRV.UN has large one-off items impacting its financial results.
Growing Profit Margin: PRV.UN's current net profit margins (38.3%) are lower than last year (46.8%).
Past Earnings Growth Analysis
Earnings Trend: PRV.UN's earnings have grown significantly by 32.6% per year over the past 5 years.
Accelerating Growth: PRV.UN's earnings growth over the past year (16.9%) is below its 5-year average (32.6% per year).
Earnings vs Industry: PRV.UN earnings growth over the past year (16.9%) exceeded the REITs industry 2.6%.
Return on Equity
High ROE: PRV.UN's Return on Equity (8.4%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Pro Real Estate Investment Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: PRV.UN has a high level of physical assets or inventory.
Debt Coverage by Assets: PRV.UN's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: PRV.UN's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if PRV.UN has a sufficient allowance for bad loans.
Low Risk Liabilities: PRV.UN reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if PRV.UN has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PRV.UN has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if PRV.UN has an appropriate level of bad loans.
Next Steps
Dividend
What is Pro Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
8.58%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: PRV.UN's dividend (8.58%) is higher than the bottom 25% of dividend payers in the Canadian market (1.96%).
High Dividend: PRV.UN's dividend (8.58%) is in the top 25% of dividend payers in the Canadian market (5.73%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, PRV.UN has been paying a dividend for less than 10 years.
Growing Dividend: PRV.UN has only been paying a dividend for 6 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (137.7%), PRV.UN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PRV.UN's dividends in 3 years are forecast to be thoroughly covered by earnings (2.3% payout ratio).
Next Steps
Management
What is the CEO of Pro Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?
6.7yrs
Average management tenure
CEO
Jim Beckerleg (72yo)
6.7yrs
Tenure
CA$618,882
Compensation
Mr. James W. Beckerleg, also known as Jim, has serves as President, Chief Executive Officer at Pro Real Estate Investment Trust since March 2013 and serves as Trustee since March 11, 2013. He was the Presi ...
Management Age and Tenure
6.7yrs
Average Tenure
Experienced Management: PRV.UN's management team is seasoned and experienced (6.7 years average tenure).
Board Age and Tenure
5.9yrs
Average Tenure
63yo
Average Age
Experienced Board: PRV.UN's board of directors are considered experienced (5.9 years average tenure).
Insider Trading
Insider Buying: PRV.UN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 5,000 |
| Max Price | CA$7.12 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Trustee |
| Shares | 5,000 |
| Max Price | CA$7.00 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 4,000 |
| Max Price | CA$7.06 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 5,000 |
| Max Price | CA$7.04 |
| Entity | Individual |
| Role | Chairman of the Board Independent Chairman of the Board of Trustees |
| Shares | 6,821.67 |
| Max Price | CA$6.57 |
| Entity | Individual |
| Role | Chairman of the Board Independent Chairman of the Board of Trustees |
| Shares | 8,820 |
| Max Price | CA$5.67 |
| Entity | Company |
| Shares | 3,333.33 |
| Max Price | CA$5.67 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 4,666.67 |
| Max Price | CA$5.94 |
| Entity | Company |
| Shares | 6,666.67 |
| Max Price | CA$6.13 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 1,666.67 |
| Max Price | CA$5.91 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 6,000 |
| Max Price | CA$6.00 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 2,333.33 |
| Max Price | CA$6.00 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 8,333.33 |
| Max Price | CA$6.24 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 31%.
Management Team
Jim Beckerleg (72yo)
President
- Tenure: 6.7yrs
- Compensation: CA$618.88k
Gordon Lawlor (51yo)
Executive VP
- Tenure: 6.7yrs
- Compensation: CA$468.21k
Mark O'Brien
MD Operations & Director of Acquisitions
- Tenure: 3.8yrs
Board Members
Jim Beckerleg (72yo)
President
- Tenure: 6.7yrs
- Compensation: CA$618.88k
Ron Smith (69yo)
Independent Trustee
- Tenure: 6.7yrs
- Compensation: CA$72.17k
John Levitt (70yo)
Independent Chairman of the Board of Trustees
- Tenure: 6.7yrs
- Compensation: CA$88.90k
Gérard Limoges (79yo)
Independent Trustee
- Tenure: 6.7yrs
- Compensation: CA$87.90k
Martin Coté (44yo)
Independent Trustee
- Tenure: 4.4yrs
- Compensation: CA$57.45k
Shenoor Jadavji (54yo)
- Tenure: 5.2yrs
- Compensation: CA$61.74k
Vincent Chiara (57yo)
Independent Trustee
- Tenure: 4.4yrs
- Compensation: CA$58.45k
Peter Aghar (51yo)
- Tenure: 4.4yrs
- Compensation: CA$57.45k
Company Information
Pro Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Pro Real Estate Investment Trust
- Ticker: PRV.UN
- Exchange: TSX
- Founded: 2010
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: CA$292.312m
- Market Cap: CA$273.335m
- Shares outstanding: 39.82m
- Website: https://www.proreit.com
Location
- Pro Real Estate Investment Trust
- 2000 Mansfield Street
- Suite 1000
- Montreal
- Quebec
- H3A 2Z7
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PRV.UN | TSX (The Toronto Stock Exchange) | Yes | Trust Units | CA | CAD | Mar 2013 |
Biography
PROREIT (www.proreit.com) is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 91 commercial properties across Canada representing over 4.4 million square feet of ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/11/22 00:09 |
| End of Day Share Price | 2019/11/21 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.