Pro Real Estate Investment Trust
Market Cap
CA$194.9m
Last Updated
2020/10/19 23:58 UTC
Data Sources
Company Financials +
Executive Summary
PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 93 commercial properties across Canada representing over 4.5 million square feet of GLA. More Details
Rewards
Risk Analysis
Snowflake Analysis
Fair value with questionable track record.
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
-1.9%
CA REITs
-1.2%
CA Market
1 Year Return
-32.8%
PRV.UN
-26.0%
CA REITs
-4.5%
CA Market
Return vs Industry: PRV.UN underperformed the Canadian REITs industry which returned -25.5% over the past year.
Return vs Market: PRV.UN underperformed the Canadian Market which returned -3.8% over the past year.
Shareholder returns
| PRV.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.2% | -1.9% | -1.2% |
| 30 Day | -1.8% | -2.4% | -0.03% |
| 90 Day | 10.5% | -2.7% | 0.9% |
| 1 Year | -25.8%-32.8% | -21.8%-26.0% | -1.0%-4.5% |
| 3 Year | -4.1%-27.8% | 1.9%-13.7% | 6.4%-4.0% |
| 5 Year | 36.7%-16.2% | 22.8%-7.5% | 34.5%13.8% |
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
1 month ago | Simply Wall St
What Type Of Returns Would Pro Real Estate Investment Trust's(TSE:PRV.UN) Shareholders Have Earned If They Purchased Their SharesYear Ago?4 months ago | Simply Wall St
How Pro Real Estate Investment Trust (TSE:PRV.UN) Can Impact Your Portfolio Volatility5 months ago | Simply Wall St
At CA$3.97, Is It Time To Put Pro Real Estate Investment Trust (TSE:PRV.UN) On Your Watch List?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$4.85) is trading below our estimate of fair value (CA$10.92)
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 (7.9x) compared to the CA REITs industry average (7.6x).
PE vs Market: PRV.UN is good value based on its PE Ratio (7.9x) compared to the Canadian market (16.3x).
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 (0.8x) is in line with the CA REITs industry average.
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?
2.6%
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 (1.7%).
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 (2.6% per year) is forecast to grow slower than the Canadian market (5.8% per year).
High Growth Revenue: PRV.UN's revenue (2.6% 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?
34.8%
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 (36%) are lower than last year (46.4%).
Past Earnings Growth Analysis
Earnings Trend: PRV.UN's earnings have grown significantly by 34.8% per year over the past 5 years.
Accelerating Growth: PRV.UN's earnings growth over the past year (2.6%) is below its 5-year average (34.8% per year).
Earnings vs Industry: PRV.UN earnings growth over the past year (2.6%) underperformed the REITs industry 15.1%.
Return on Equity
High ROE: PRV.UN's Return on Equity (9.6%) is considered low.
Next Steps
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$16.9M) do not cover its short term liabilities (CA$61.8M).
Long Term Liabilities: PRV.UN's short term assets (CA$16.9M) do not cover its long term liabilities (CA$338.5M).
Debt to Equity History and Analysis
Debt Level: PRV.UN's debt to equity ratio (155.9%) is considered high.
Reducing Debt: PRV.UN's debt to equity ratio has reduced from 183.9% to 155.9% over the past 5 years.
Debt Coverage: PRV.UN's debt is not well covered by operating cash flow (4.6%).
Interest Coverage: PRV.UN's interest payments on its debt are not well covered by EBIT (2.2x coverage).
Balance Sheet
Next Steps
Dividend
What is Pro Real Estate Investment Trust current dividend yield, its reliability and sustainability?
9.28%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PRV.UN's dividend (9.28%) is higher than the bottom 25% of dividend payers in the Canadian market (1.69%).
High Dividend: PRV.UN's dividend (9.28%) is in the top 25% of dividend payers in the Canadian market (5.85%)
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 7 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (127.5%), PRV.UN's dividend payments are not well 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?
7.6yrs
Average management tenure
CEO
Jim Beckerleg (73 yo)
7.58yrs
Tenure
CA$1,458,616
Compensation
Mr. James W. Beckerleg, also known as Jim, has serves as President, Chief Executive Officer at Pro Real Estate Investment Trust since March 2013 and serves as Trustee since March 11, 2013. He was the Presi ...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD1.11M) is above average for companies of similar size in the Canadian market ($USD170.66K).
Compensation vs Earnings: Jim's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.58yrs | CA$1.46m | no data | |
| Executive VP | 7.58yrs | CA$1.19m | 0.59% CA$ 1.1m | |
| Managing Director of Operations | 4.75yrs | no data | no data | |
| President of Compass Commercial Realty LP | no data | no data | no data |
7.6yrs
Average Tenure
Experienced Management: PRV.UN's management team is seasoned and experienced (7.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.58yrs | CA$1.46m | no data | |
| Independent Trustee | 7.58yrs | CA$56.94k | 0.095% CA$ 185.7k | |
| Independent Chairman of the Board of Trustees | 7.58yrs | CA$66.94k | 0.071% CA$ 137.6k | |
| Independent Trustee | 7.58yrs | CA$55.94k | 0.10% CA$ 199.2k | |
| Independent Trustee | 5.33yrs | CA$42.94k | 0.044% CA$ 86.5k | |
| 6.08yrs | CA$42.94k | no data | ||
| Independent Trustee | 5.33yrs | CA$45.94k | 0.0094% CA$ 18.3k | |
| 5.33yrs | CA$41.94k | no data |
6.8yrs
Average Tenure
64yo
Average Age
Experienced Board: PRV.UN's board of directors are considered experienced (6.8 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 not been meaningfully diluted in the past year.
Top Shareholders
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$194.912m
- Market Cap: CA$187.420m
- Shares outstanding: 40.02m
- 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 | Nov 2011 |
Biography
PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 93 commercial properties across Canada representing over 4.5 million square feet of GLA. Established i ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/19 23:58 |
| 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.