PRV.

Pro Real Estate Investment TrustTSX:PRV.UN Stock Report

Market Cap

CA$342.4m

7D

1.6%

1Y

43.5%

Updated

18 Sep, 2021

Data

Company Financials +
PRV.UN fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance2/6
Financial Health1/6
Dividends3/6

PRV.UN Overview

PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 92 commercial properties across Canada representing over 4.5 million square feet of GLA.

Price History & Performance

Summary of all time highs, changes and price drops for Pro Real Estate Investment Trust
Historical stock prices
Current Share PriceCA$7.09
52 Week HighCA$4.30
52 Week LowCA$7.09
Beta1.74
1 Month Change2.61%
3 Month Change0%
1 Year Change43.52%
3 Year Change1.00%
5 Year Change0.57%
Change since IPO18.17%

Recent News & Updates

Shareholder Returns

PRV.UNCA REITsCA Market
7D1.6%0.5%-0.6%
1Y43.5%33.8%28.9%

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

Return vs Market: PRV.UN exceeded the Canadian Market which returned 29% over the past year.

Price Volatility

Is PRV.UN's price volatile compared to industry and market?
PRV.UN volatility
PRV.UN Beta1.74
Industry Beta1.03
Market Beta1

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

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

About the Company

FoundedEmployeesCEOWebsite
2010n/aJim Beckerleghttps://www.proreit.com

PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 92 commercial properties across Canada representing over 4.5 million square feet of GLA. Established in March 2013, PROREIT is mainly focused on strong primary and secondary markets in Québec, Atlantic Canada and Ontario, with selective exposure in Western Canada.

Pro Real Estate Investment Trust Fundamentals Summary

How do Pro Real Estate Investment Trust's earnings and revenue compare to its market cap?
PRV.UN fundamental statistics
Market CapCA$342.36m
Earnings (TTM)CA$18.44m
Revenue (TTM)CA$70.05m

18.6x

P/E Ratio

4.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PRV.UN income statement (TTM)
RevenueCA$70.05m
Cost of RevenueCA$28.82m
Gross ProfitCA$41.23m
ExpensesCA$22.79m
EarningsCA$18.44m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.39
Gross Margin58.86%
Net Profit Margin26.33%
Debt/Equity Ratio156.1%

How did PRV.UN perform over the long term?

See historical performance and comparison

Dividends

6.3%

Current Dividend Yield

87%

Payout Ratio

Valuation

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

35.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PRV.UN (CA$7.09) is trading below our estimate of fair value (CA$11.06)

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 (18.6x) compared to the Canadian REITs industry average (10.1x).

PE vs Market: PRV.UN is poor value based on its PE Ratio (18.6x) compared to the Canadian market (12.9x).


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's PB Ratio (1.2x) is in line with the CA REITs industry average.


Future Growth

How is Pro Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

13.1%

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 (1.5%).

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 (13.1% per year) is forecast to grow faster than the Canadian market (6.1% per year).

High Growth Revenue: PRV.UN's revenue (13.1% 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


Past Performance

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

22.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PRV.UN has high quality earnings.

Growing Profit Margin: PRV.UN's current net profit margins (26.3%) are lower than last year (36%).


Past Earnings Growth Analysis

Earnings Trend: PRV.UN's earnings have grown significantly by 22.3% per year over the past 5 years.

Accelerating Growth: PRV.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: PRV.UN had negative earnings growth (-21.8%) over the past year, making it difficult to compare to the REITs industry average (5.5%).


Return on Equity

High ROE: PRV.UN's Return on Equity (6.3%) is considered low.


Financial Health

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


Financial Position Analysis

Short Term Liabilities: PRV.UN's short term assets (CA$13.4M) do not cover its short term liabilities (CA$61.6M).

Long Term Liabilities: PRV.UN's short term assets (CA$13.4M) do not cover its long term liabilities (CA$418.0M).


Debt to Equity History and Analysis

Debt Level: PRV.UN's debt to equity ratio (156.1%) is considered high.

Reducing Debt: PRV.UN's debt to equity ratio has reduced from 201.6% to 156.1% over the past 5 years.

Debt Coverage: PRV.UN's debt is not well covered by operating cash flow (6%).

Interest Coverage: PRV.UN's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet


Dividend

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

6.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PRV.UN's dividend (6.35%) is higher than the bottom 25% of dividend payers in the Canadian market (1.64%).

High Dividend: PRV.UN's dividend (6.35%) 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, PRV.UN has been paying a dividend for less than 10 years.

Growing Dividend: PRV.UN has only been paying a dividend for 8 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (87.3%), PRV.UN's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

8.5yrs

Average management tenure


CEO

Jim Beckerleg (74 yo)

8.5yrs

Tenure

CA$1,549,313

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...


CEO Compensation Analysis

Compensation vs Market: Jim's total compensation ($USD1.22M) is above average for companies of similar size in the Canadian market ($USD512.41K).

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


Leadership Team

Experienced Management: PRV.UN's management team is seasoned and experienced (8.5 years average tenure).


Board Members

Experienced Board: PRV.UN's board of directors are considered experienced (7.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: PRV.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 20.6%.


Top Shareholders

Company Information

Pro Real Estate Investment Trust's 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$342.358m
  • Market Cap: CA$331.868m
  • Shares outstanding: 48.29m
  • Website: https://www.proreit.com

Location

  • Pro Real Estate Investment Trust
  • 2000 Mansfield Street
  • Suite 1000
  • Montreal
  • Quebec
  • H3A 2Z7
  • 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.