Cominar is one of the largest diversified real estate investment trusts in Canada and is the largest commercial property owner in the Province of Québec.
Undervalued average dividend payer.
Share Price & News
How has Cominar Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CMLE.F's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: CMLE.F underperformed the US REITs industry which returned -14.8% over the past year.
Return vs Market: CMLE.F underperformed the US Market which returned 4.1% over the past year.
Price Volatility Vs. Market
How volatile is Cominar Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Cominar Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CMLE.F ($5.54) is trading below our estimate of fair value ($12.32)
Significantly Below Fair Value: CMLE.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CMLE.F is good value based on its PE Ratio (3x) compared to the REITs industry average (25.8x).
PE vs Market: CMLE.F is good value based on its PE Ratio (3x) compared to the US market (15.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CMLE.F's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CMLE.F is good value based on its PB Ratio (0.4x) compared to the US REITs industry average (1.3x).
How is Cominar Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if CMLE.F's forecast earnings growth is above the savings rate (2.2%).
Earnings vs Market: Insufficient data to determine if CMLE.F's earnings are forecast to grow faster than the US market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CMLE.F's revenue is expected to decline over the next 3 years (-0.07% per year).
High Growth Revenue: CMLE.F's revenue is forecast to decline over the next 3 years (-0.07% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CMLE.F's Return on Equity is forecast to be high in 3 years time
How has Cominar Real Estate Investment Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CMLE.F has a large one-off gain of CA$272.0M impacting its March 31 2020 financial results.
Growing Profit Margin: CMLE.F became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: CMLE.F's earnings have declined by -25.7% per year over the past 5 years.
Accelerating Growth: CMLE.F has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: CMLE.F has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (5.3%).
Return on Equity
High ROE: CMLE.F's Return on Equity (14.6%) is considered low.
How is Cominar Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: CMLE.F's short term assets (CA$233.8M) do not cover its short term liabilities (CA$547.4M).
Long Term Liabilities: CMLE.F's short term assets (CA$233.8M) do not cover its long term liabilities (CA$3.2B).
Debt to Equity History and Analysis
Debt Level: CMLE.F's debt to equity ratio (114.2%) is considered high.
Reducing Debt: CMLE.F's debt to equity ratio has reduced from 124% to 114.2% over the past 5 years.
Debt Coverage: CMLE.F's debt is not well covered by operating cash flow (5.1%).
Interest Coverage: CMLE.F's interest payments on its debt are not well covered by EBIT (2.3x coverage).
What is Cominar Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CMLE.F's dividend (9.33%) is higher than the bottom 25% of dividend payers in the US market (1.75%).
High Dividend: CMLE.F's dividend (9.33%) is in the top 25% of dividend payers in the US market (4.73%)
Stability and Growth of Payments
Stable Dividend: CMLE.F's dividends per share have been stable in the past 10 years.
Growing Dividend: CMLE.F's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (67.8%), CMLE.F's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Sylvain Cossette (61yo)
Mr. Sylvain Cossette, B.C.L., L.L.M., has been the Chief Executive Officer and a Non-Independent Trustee at Cominar Real Estate Investment Trust since January 1, 2018 and has been its President since March ...
CEO Compensation Analysis
Compensation vs Market: Sylvain's total compensation ($USD1.94M) is below average for companies of similar size in the US market ($USD3.23M).
Compensation vs Earnings: Sylvain's compensation has been consistent with company performance over the past year.
|Executive VP of Retail & Chief Development Officer||1.67yrs||CA$703.87k||0.0057% CA$58.8k|
|VP of Capital Markets & Interim CFO||no data||no data||0.0059% CA$61.1k|
|Vice President of Finances & Accounting||no data||no data||0.011% CA$112.9k|
|Vice President of Data & Technology||1.33yrs||no data||no data|
|VP of Legal Affairs & Corporate Secretary||1.33yrs||no data||0.00019% CA$2.0k|
|Executive Vice President of Operations & Property Management||2.33yrs||no data||no data|
|Executive Vice President of Leasing - Office & Industrial||no data||no data||0.012% CA$123.0k|
|Executive Vice President of Development||no data||CA$525.72k||0.014% CA$143.0k|
|Executive VP of Office & Industrial and Chief Real Estate Operations Officer||no data||no data||no data|
Experienced Management: CMLE.F's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
|Independent Chairman of the Board||1yr||CA$127.99k||0.025% CA$254.6k|
|Independent Corporate Trustee||2.17yrs||CA$94.53k||0.012% CA$122.2k|
|Independent Corporate Trustee||1yr||CA$55.75k||0.0017% CA$17.5k|
|Independent Trustee||1.33yrs||CA$84.92k||1.01% CA$10.5m|
|Independent Corporate Trustee||7yrs||CA$92.00k||0.015% CA$159.8k|
|Independent Corporate Trustee||4yrs||CA$104.42k||0.011% CA$118.5k|
|Independent Director||no data||no data||no data|
|Independent Corporate Trustee||1yr||CA$57.25k||0.0092% CA$95.1k|
|Independent Corporate Trustee||5yrs||CA$98.50k||no data|
Experienced Board: CMLE.F's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CMLE.F insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Cominar Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
- Name: Cominar Real Estate Investment Trust
- Ticker: CMLE.F
- Exchange: OTCPK
- Founded: 1997
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: CA$1.425b
- Listing Market Cap: CA$1.032b
- Shares outstanding: 182.44m
- Website: https://www.cominar.com
Number of Employees
- Cominar Real Estate Investment Trust
- Complexe Jules-Dallaire - T3
- Suite 850
- Quebec City
- G1V 0C1
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CUF.UN||TSX (The Toronto Stock Exchange)||Yes||Trust Units||CA||CAD||May 1999|
|CMLE.F||OTCPK (Pink Sheets LLC)||Yes||Trust Units||US||USD||May 1999|
Cominar is one of the largest diversified real estate investment trusts in Canada and is the largest commercial property owner in the Province of Québec. Our portfolio consists of 315 high quality office, retail and industrial properties, totalling 35.9 million square feet located in the Montreal, Québec City and Ottawa areas. Cominar's primary objective is to maximize total return to unitholders by way of tax-efficient distributions and maximizing the unit value through the proactive management of our portfolio.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/05/27 13:56|
|End of Day Share Price||2020/05/21 00:00|
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.