Last C$4.66 CAD
Change Today +0.18 / 4.02%
Volume 118.6K
As of 4:00 PM 04/24/14 All times are local (Market data is delayed by at least 15 minutes).

partners real estate investm (PAR-U) Snapshot

Open
C$4.48
Previous Close
C$4.48
Day High
C$4.66
Day Low
C$4.48
52 Week High
05/3/13 - C$7.89
52 Week Low
04/15/14 - C$4.31
Market Cap
121.3M
Average Volume 10 Days
178.7K
EPS TTM
C$0.18
Shares Outstanding
26.0M
EX-Date
04/28/14
P/E TM
25.9x
Dividend
C$0.50
Dividend Yield
12.48%
Current Stock Chart for PARTNERS REAL ESTATE INVESTM (PAR-U)

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partners real estate investm (PAR-U) Details

Partners Real Estate Investment Trust is an open-ended real estate investment trust. The firm invests in the real estate markets of Canada. It focuses on acquiring a portfolio of retail and mixed-use retail real estate properties from primary and secondary markets. The firm was formerly known as Charter Real Estate Investment Trust. Partners Real Estate Investment Trust was founded in 2005, and is based in Calgary, Canada.

Founded in 2005

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Executives, Board Directors

partners real estate investm (PAR-U) Key Developments

Partners Real Estate Investment Trust Announces Executive Changes

Partners Real Estate Investment Trust announce that Lindsay Adam Weiss and Kevin VanAmburg have been appointed to the REIT's Board of Trustees. Weiss is Managing Director and founder of PivotalPoint Advisory Group Inc. In conjunction with these appointments, Partners announced that Allen Weinberg has resigned from the REIT's Board of Trustees.

Partners Real Estate Investment Trust Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Financial Guidance for 2014

Partners Real Estate Investment Trust announced earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenues from income producing properties was $14,774,322 against $11,470,356 a year ago. Net loss was $9,184,881 or $0.36 per basic share against net income of $17,108,336 or $0.86 per basic share a year ago. NOI was $9,004,789 against $7,310,162 a year ago. FFO was $2,979,975 or $0.11 per unit against $3,525,638 or $0.16 per unit a year ago. AFFO was $3,064,378 or $0.12 per unit against $3,464,647 or $0.15 per unit a year ago. Partners REIT's revenue from income producing properties for the fourth quarter and full year increased by 29%, and 31%, respectively, when compared to the same periods in 2012. These increases were primarily due to the acquisition of six properties across British Columbia, Alberta, and Québec during 2013, as well as a full year of operations at twelve new properties acquired in 2012. The increase in all property NOI was largely driven by acquisition activity. Same property NOI decreased 5% for the fourth quarter and 3% for the full year when compared to the respective prior year periods. The decreases were primarily due to year-end adjustments made to recovery accruals and allowances for bad debt. The decrease in FFO and AFFO were primarily due to year- end adjustments made to recovery accruals and allowances for bad debt. For the full year, the company reported revenues from income producing properties was $56,567,180 against $43,045,555 a year ago. Net income was $4,195,221 or $0.16 per basic share against net income of $27,823,978 or $1.45 per basic share a year ago. NOI was $35,267,384 against $28,024,289 a year ago. FFO was $12,546,438 or $0.48 per unit against $11,918,184 or $0.61 per unit a year ago. AFFO was $12,988,348 or $0.50 per unit against $11,892,246 or $0.61 per unit a year ago. The REIT's total debt as at December 31, 2013 increased by $104.6 million, or 36%, over the balance at December 31, 2012. This increase is attributable to a $23.0 million convertible debenture issuance that closed on March 5, 2013, net draws of $23.5 million on the REIT's Credit Facility and new mortgages of $69.3 million. The REIT anticipates that there will be strong demand for the majority of this space, and as a result, these expiries provide the REIT with a near-term opportunity to potentially increase revenues. The REIT has $57.1 million, or 20.1%, in mortgages maturing over the next two years. This provides an opportunity to refinance this portion of the REIT's debt at current market rates, which management expects to result in a slight reduction to the REIT's financing costs. As a result of the expected performance of Partners REIT's existing portfolio, as well as the reduction of the REIT's distribution per unit in November, 2013, management anticipates that the REIT's AFFO payout ratio will remain below 100% during the 2014 year.

Partners Real Estate Investment Trust, Q4 2013 Earnings Call, Mar 31, 2014

Partners Real Estate Investment Trust, Q4 2013 Earnings Call, Mar 31, 2014

 

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PAR-U

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Valuation PAR-U Industry Range
Price/Earnings 26.7x
Price/Sales 1.9x
Price/Book 0.6x
Price/Cash Flow 26.8x
TEV/Sales -- Not Meaningful
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