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Partners Real Estate Investment Trust

OTCPK:PTSR.F
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PTSR.F
OTCPK
CA$26M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Partners REIT is a real estate investment trust focused on the management of a portfolio of 23 retail and mixed-use community and neighbourhood shopping centres. The last earnings update was 18 days ago. More info.


Add to Portfolio Compare Print
  • Partners Real Estate Investment Trust has significant price volatility in the past 3 months.
PTSR.F Share Price and Events
7 Day Returns
-65%
OTCPK:PTSR.F
0.1%
US REITs
-1.4%
US Market
1 Year Returns
-81.7%
OTCPK:PTSR.F
13.9%
US REITs
1.6%
US Market
PTSR.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Partners Real Estate Investment Trust (PTSR.F) -65% -68.3% - -81.7% -84.2% -90.3%
US REITs 0.1% 2.1% 3.4% 13.9% 11.4% 25.6%
US Market -1.4% -3.9% 0.2% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • PTSR.F underperformed the REITs industry which returned 13.9% over the past year.
  • PTSR.F underperformed the Market in United States of America which returned 1.6% over the past year.

PTSR.F Value

 Is Partners Real Estate Investment Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Partners Real Estate Investment Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Partners Real Estate Investment Trust.

OTCPK:PTSR.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 0 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:PTSR.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 26.5%) (247.67%))
1.329
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.329 * 5.96%)
10.65%

Discounted Cash Flow Calculation for OTCPK:PTSR.F using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Partners Real Estate Investment Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Partners Real Estate Investment Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

OTCPK:PTSR.F DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (CAD, Millions) Source Present Value
Discounted (@ 10.65%)
2019 15.20 Est @ 3.89% 13.74
2020 15.74 Est @ 3.54% 12.85
2021 16.26 Est @ 3.3% 12.00
2022 16.76 Est @ 3.13% 11.18
2023 17.27 Est @ 3.01% 10.41
2024 17.77 Est @ 2.92% 9.68
2025 18.28 Est @ 2.87% 9.00
2026 18.80 Est @ 2.83% 8.36
2027 19.33 Est @ 2.8% 7.77
2028 19.86 Est @ 2.78% 7.22
Present value of next 10 years cash flows CA$102.22
OTCPK:PTSR.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$19.86 × (1 + 2.73%) ÷ (10.65% – 2.73%)
CA$257.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$257.52 ÷ (1 + 10.65%)10
CA$93.58
OTCPK:PTSR.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$102.22 + CA$93.58
CA$195.79
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$195.79 / 46.08
CA$4.35
OTCPK:PTSR.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:PTSR.F represents 0.76141x of TSX:PAR.UN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.76141x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 4.35 x 0.76141
$3.31
Value per share (USD) From above. $3.31
Current discount Discount to share price of $0.43
= -1 x ($0.43 - $3.31) / $3.31
86.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Partners Real Estate Investment Trust is available for.
Intrinsic value
>50%
Share price is $0.43 vs Future cash flow value of $3.31
Current Discount Checks
For Partners Real Estate Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Partners Real Estate Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Partners Real Estate Investment Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Partners Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Partners Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:PTSR.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$-0.60
TSX:PAR.UN Share Price ** TSX (2019-05-24) in CAD CA$0.57
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.61x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.44x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Partners Real Estate Investment Trust.

OTCPK:PTSR.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:PAR.UN Share Price ÷ EPS (both in CAD)

= 0.57 ÷ -0.60

-0.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Partners Real Estate Investment Trust is loss making, we can't compare its value to the US REITs industry average.
  • Partners Real Estate Investment Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Partners Real Estate Investment Trust's expected growth come at a high price?
Raw Data
OTCPK:PTSR.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
65.3%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Partners Real Estate Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Partners Real Estate Investment Trust's assets?
Raw Data
OTCPK:PTSR.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$2.18
TSX:PAR.UN Share Price * TSX (2019-05-24) in CAD CA$0.57
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:PTSR.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:PAR.UN Share Price ÷ Book Value per Share (both in CAD)

= 0.57 ÷ 2.18

0.26x

* Primary Listing of Partners Real Estate Investment Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Partners Real Estate Investment Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Partners Real Estate Investment Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Partners Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PTSR.F Future Performance

 How is Partners Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Partners Real Estate Investment Trust, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
65.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Partners Real Estate Investment Trust expected to grow at an attractive rate?
  • Partners Real Estate Investment Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Partners Real Estate Investment Trust's earnings growth is expected to exceed the United States of America market average.
  • Unable to compare Partners Real Estate Investment Trust's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:PTSR.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:PTSR.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 65.3%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:PTSR.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:PTSR.F Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 45 17 -28
2018-12-31 49 16 -33
2018-09-30 51 14 1
2018-06-30 51 17 3
2018-03-31 52 14 1
2017-12-31 53 14 5
2017-09-30 54 15 3
2017-06-30 56 16 5
2017-03-31 56 16 9
2016-12-31 57 15 9
2016-09-30 57 15 -3
2016-06-30 57 10 -6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Partners Real Estate Investment Trust's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Partners Real Estate Investment Trust is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:PTSR.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Partners Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PTSR.F Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 -0.60
2018-12-31 -0.71
2018-09-30 0.01
2018-06-30 0.07
2018-03-31 0.02
2017-12-31 0.13
2017-09-30 0.09
2017-06-30 0.14
2017-03-31 0.26
2016-12-31 0.27
2016-09-30 -0.08
2016-06-30 -0.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Partners Real Estate Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Partners Real Estate Investment Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Partners Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PTSR.F Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Partners Real Estate Investment Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Partners Real Estate Investment Trust does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Partners Real Estate Investment Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Partners Real Estate Investment Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Partners Real Estate Investment Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Partners Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PTSR.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 45.07 -27.72 3.43
2018-12-31 48.83 -32.87 4.27
2018-09-30 51.23 0.55 5.61
2018-06-30 51.35 3.30 5.47
2018-03-31 52.01 0.85 5.07
2017-12-31 52.90 5.28 4.66
2017-09-30 54.39 3.29 4.56
2017-06-30 55.79 4.86 4.62
2017-03-31 56.25 8.82 4.64
2016-12-31 56.78 9.05 4.40
2016-09-30 56.76 -2.57 4.08
2016-06-30 57.05 -5.52 3.98
2016-03-31 56.97 -8.08 4.04
2015-12-31 57.09 -14.56 4.09
2015-09-30 57.65 -5.94 4.48
2015-06-30 57.82 -18.78 3.99
2015-03-31 59.18 -29.87 4.62
2014-12-31 59.82 -27.08 4.54
2014-09-30 59.66 -33.26 4.21
2014-06-30 59.69 -17.91 4.65
2014-03-31 58.55 -5.21 3.71
2013-12-31 56.57 4.20 3.49
2013-09-30 53.26 30.49 3.04
2013-06-30 49.93 31.13 2.68
2013-03-31 47.15 32.32 2.57
2012-12-31 43.05 27.82 2.38
2012-09-30 39.04 13.78 2.55
2012-06-30 34.01 12.36 2.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Partners Real Estate Investment Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Partners Real Estate Investment Trust has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Partners Real Estate Investment Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Partners Real Estate Investment Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Partners Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PTSR.F Health

 How is Partners Real Estate Investment Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Partners Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Partners Real Estate Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Partners Real Estate Investment Trust's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Partners Real Estate Investment Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Partners Real Estate Investment Trust Company Filings, last reported 1 month ago.

OTCPK:PTSR.F Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 100.43 65.05 1.99
2018-12-31 99.66 65.43 3.07
2018-09-30 173.81 177.98 11.45
2018-06-30 177.55 194.27 5.03
2018-03-31 178.41 278.14 1.39
2017-12-31 183.35 281.41 6.66
2017-09-30 184.02 277.28 2.98
2017-06-30 149.75 324.36 16.75
2017-03-31 152.07 353.19 5.69
2016-12-31 151.51 353.58 9.13
2016-09-30 153.13 361.46 2.95
2016-06-30 151.41 362.91 3.31
2016-03-31 149.67 365.04 2.08
2015-12-31 148.89 363.54 2.67
2015-09-30 142.10 385.49 3.10
2015-06-30 143.04 382.57 2.39
2015-03-31 143.59 384.48 2.11
2014-12-31 149.04 380.28 2.15
2014-09-30 153.51 392.93 14.02
2014-06-30 167.98 409.69 1.75
2014-03-31 180.64 401.91
2013-12-31 184.88 398.28
2013-09-30 197.01 398.72 0.14
2013-06-30 198.00 378.82 2.86
2013-03-31 198.81 309.54 4.16
2012-12-31 170.06 296.66 1.85
2012-09-30 151.39 283.99 14.49
2012-06-30 149.22 271.33 5.83
  • Partners Real Estate Investment Trust's level of debt (64.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (222.7% vs 64.8% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Partners Real Estate Investment Trust has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Partners Real Estate Investment Trust has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
X
Financial health checks
We assess Partners Real Estate Investment Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Partners Real Estate Investment Trust has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PTSR.F Dividends

 What is Partners Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Partners Real Estate Investment Trust dividends.
If you bought $2,000 of Partners Real Estate Investment Trust shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Partners Real Estate Investment Trust's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Partners Real Estate Investment Trust's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:PTSR.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:PTSR.F Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.000 0.000
2019-04-23 0.180 10.466
2019-03-15 0.180 9.882
2019-02-19 0.180 8.730
2019-01-21 0.180 8.716
2018-12-14 0.180 8.602
2018-11-15 0.180 8.313
2018-10-19 0.250 8.504
2018-09-07 0.250 8.191
2018-08-15 0.250 8.358
2018-07-19 0.250 8.332
2018-06-21 0.250 8.296
2018-05-15 0.250 8.244
2018-04-18 0.250 8.238
2018-03-20 0.250 8.354
2018-02-15 0.250 8.354
2017-12-15 0.250 8.316
2017-11-15 0.250 8.299
2017-09-15 0.250 8.106
2017-08-15 0.250 7.960
2017-07-17 0.250 7.920
2017-06-15 0.250 7.840
2017-05-15 0.250 7.289
2017-04-18 0.250 7.019
2017-03-15 0.250 6.859
2017-02-15 0.250 6.977
2017-01-18 0.250 7.280
2016-12-15 0.250 7.374
2016-11-15 0.250 7.287
2016-10-19 0.250 7.024
2016-09-15 0.250 7.053
2016-08-15 0.250 6.936
2016-07-15 0.250 6.855
2016-06-15 0.250 6.954
2016-05-16 0.250 6.656
2016-04-19 0.250 6.653
2016-03-15 0.250 7.268
2016-02-16 0.250 7.564
2016-01-19 0.250 7.701
2015-12-15 0.250 7.809
2015-11-16 0.250 7.562
2015-10-15 0.250 7.589
2015-09-16 0.250 7.435
2015-08-17 0.250 7.538
2015-07-16 0.250 7.158
2015-06-15 0.250 6.762
2015-05-15 0.250 6.701
2015-04-15 0.250 6.497
2015-03-19 0.250 7.032
2015-02-18 0.250 6.901
2015-01-15 0.250 6.726
2014-12-16 0.250 6.719
2014-11-18 0.250 6.131
2014-10-17 0.250 5.961
2014-09-15 0.250 6.202
2014-08-14 0.250 5.888
2014-07-17 0.500 9.788
2014-06-17 0.500 9.984
2014-05-21 0.500 10.402
2014-04-17 0.500 11.282
2014-03-14 0.500 9.767
2014-02-18 0.500 8.755
2014-01-15 0.500 8.773
2013-12-11 0.500 9.260
2013-11-15 0.500 8.541
2013-10-15 0.640 10.432
2013-09-16 0.640 9.792
2013-08-15 0.640 10.171
2013-07-15 0.640 9.633
2013-06-12 0.640 9.274
2013-05-15 0.640 8.782
2013-04-16 0.640 8.259
2013-03-18 0.640 8.187
2013-02-15 0.640 8.253
2013-01-16 0.640 7.968
2012-12-14 0.640 8.237
2012-11-15 0.640 8.133
2012-10-15 0.640 7.876
2012-09-17 0.640 7.534
2012-08-15 0.640 7.869
2012-07-16 0.640 8.269
2012-06-15 0.640 8.651
2012-05-15 0.640 8.603
2012-04-16 0.640 8.654
2012-03-15 0.640 8.766
2012-02-14 0.640 8.812
2012-01-16 0.640 8.534
2011-12-15 0.640 8.600
2011-11-18 0.640 8.880
2011-10-14 0.640 9.242
2011-09-15 0.640 9.559
2011-08-15 0.640 9.695
2011-07-19 0.640 9.195
2011-06-16 0.640 8.841
2011-05-18 0.640 8.740
2011-04-19 0.640 8.890
2011-03-18 0.640 8.911
2011-02-18 0.640 9.016
2011-01-18 0.640 9.288
2010-12-16 0.640 9.447
2010-11-17 0.640 9.404
2010-10-21 0.640 9.163
2010-09-17 0.640 9.964
2010-08-17 0.640 12.350
2010-07-15 0.640 11.945
2010-06-15 0.640 11.530
2010-05-17 0.640 11.455
2010-04-16 0.640 10.744
2010-03-15 0.640 10.661
2010-02-12 0.640 10.697
2010-01-15 0.640 10.838
2009-12-15 0.640 11.643
2009-11-16 0.640 12.273
2009-10-16 0.640 13.149
2009-09-15 0.640 13.133
2009-08-14 0.640 13.243
2009-07-15 0.640 13.775
2009-06-17 0.640 16.248

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Partners Real Estate Investment Trust has not reported any payouts.
  • Unable to verify if Partners Real Estate Investment Trust's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Partners Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Partners Real Estate Investment Trust has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Partners Real Estate Investment Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Partners Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Partners Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PTSR.F Management

 What is the CEO of Partners Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Charles Ross
COMPENSATION CA$115,048
AGE 76
TENURE AS CEO 0.1 years
CEO Bio

Mr. Charles Ian Ross has been an Interim Chief Executive Officer of Partners Real Estate Investment Trust since April 15, 2019. Mr. Ross serves as Managing Partner at Killdeer Management since October 1990. Mr. Ross serves as the Chief Executive Officer and President at Superior Fine Papers Inc. He serves as Chairman and Director of Cathay Forest Products Corp. He serves as Chairman of Working Ventures Canadian Fund Inc. since April 1999, Menu Foods Income Fund since June 2007, Pet Valu Inc., since September 5, 2003 and Menu Foods GenPar Limited since June 29, 2007. Mr. Ross has been the Chairman of the Board of Trustees of Partners Real Estate Investment Trust since February 23, 2017 and has been an Independent Trustee since June 17, 2015. He serves as Chairman of 6N Silicon Inc. and PET VALU International, Inc. Mr. Ross has been Director of Clearford Industries Inc., since February 4, 2008, RuggedCom Inc. since June 2007, Pet Valu Canada Inc. since September 5, 2003, Comcare Health Services since February 1999 and Praeda Management Systems Inc., since February 1999. He serves as Director of Pet valu International Inc. and Photowatt Technologies, Inc. Mr. Ross has been an Independent Director of Clearford Water Systems Inc. since February 04, 2008 and serves as a Director of the Nuclear Waste Management Organization. Mr. Ross is Lead Director in the area of Finance for OPG. He served as the Chief Executive Officer and President at Provincial Papers Inc. from 1993 to 1997. Mr. Ross served as the Chief Executive Officer and President at Cascades Boxboard Group, Inc. and Bodycote Ortech, Inc. He has served as the Chief Executive Officer, President and Governor of Ortech Corporation. Mr. Ross served as Chief Executive Officer and President at Paperboard Industries Corp. He served as Chairman of Provincial Papers Inc. Mr. Ross served as Chairman of World Heart Corporation and Pet Valu Canada Inc. He served as Director of World Heart Corporation since February 22, 2000 and Ontario Power Generation Inc. since December 2003. Mr. Ross served as Senior Director of Administration in the Dean's Office at the Richard Ivy School of Business, University of Western Ontario, from July 1999 to September 2003 and served in several positions from 1997 to September 2003. Mr. Ross holds graduation from the University of Western Ontario and received a Bachelor of Laws Degree from the University of Toronto and has been a member of the Law Society of Upper Canada since 1968.

CEO Compensation
  • Charles's compensation has increased whilst company is loss making.
  • Charles's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Charles Ross

TITLE
Chairman of the Board & Interim CEO
COMPENSATION
CA$115K
AGE
76
TENURE
0.1 yrs

Derrick West

TITLE
CFO & Corporate Secretary
COMPENSATION
CA$361K
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the Partners Real Estate Investment Trust board of directors in years:

2.2
Average Tenure
63
Average Age
  • The average tenure for the Partners Real Estate Investment Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Charles Ross

TITLE
Chairman of the Board & Interim CEO
COMPENSATION
CA$115K
AGE
76
TENURE
2.3 yrs

Allan Kimberley

TITLE
Independent Trustee
COMPENSATION
CA$116K
AGE
62
TENURE
3.9 yrs

Colin Chapin

TITLE
Independent Trustee
TENURE
0.8 yrs

Grant Anthony

TITLE
COMPENSATION
CA$81K
AGE
64
TENURE
2.2 yrs

Michael Woollcombe

TITLE
Independent Trustee
AGE
48
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • Partners Real Estate Investment Trust insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
29. Apr 19 Sell Grant Anthony Individual 24. Apr 19 24. Apr 19 -9,050 $1.31 $-11,870
24. Sep 18 Buy Grant Anthony Individual 19. Sep 18 19. Sep 18 106,700 $2.36 $251,319
X
Management checks
We assess Partners Real Estate Investment Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Partners Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PTSR.F News

Simply Wall St News

PTSR.F Company Info

Description

Partners REIT is a real estate investment trust focused on the management of a portfolio of 23 retail and mixed-use community and neighbourhood shopping centres. These properties are located in both primary and secondary markets across Manitoba, Ontario, and Quebec, and comprise a total of approximately 1.7 million square feet of leasable space.

Details
Name: Partners Real Estate Investment Trust
PTSR.F
Exchange: OTCPK
Founded: 2005
CA$19,521,947
CA$19,521,947
46,079,673
Website: http://www.partnersreit.com
Address: Partners Real Estate Investment Trust
249 Saunders Road,
Unit #3,
Barrie,
Ontario, L4N 9A3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PAR.UN Trust Units The Toronto Stock Exchange CA CAD 02. Sep 2005
OTCPK PTSR.F Trust Units Pink Sheets LLC US USD 02. Sep 2005
Number of employees
Current staff
Staff numbers
0
Partners Real Estate Investment Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 00:34
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.