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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Cominar Real Estate Investment Trust    CUF.UN   CA1999101001

COMINAR REAL ESTATE INVESTMENT TRUST

(CUF.UN)
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Cominar Real Estate Investment Trust : Announces the Appointment of Antoine Tronquoy as CFO and Nathalie Rousseau as Executive Vice President, Asset Management and Transactions

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09/15/2020 | 04:55pm EDT

QUEBEC CITY, Sept. 15, 2020 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar" or the "REIT") (TSX: CUF.UN) announces the appointment of Antoine Tronquoy as Executive Vice President and Chief Financial Officer and the arrival of Nathalie Rousseau as Executive Vice President, Asset Management and Transactions.

Mr. Tronquoy, who had been acting CFO since last May, was chosen following a selection process conducted in partnership with executive recruitment firm Odgers Berndtson. Since joining Cominar in March 2019, Mr. Tronquoy has demonstrated his in-depth knowledge of financial management and capital markets by playing a key role in numerous financing transactions over the past year. Besides his experience at Cominar, Antoine Tronquoy worked for many years at Morgan Stanley, Otéra Capital and the Inovalis Real Estate Investment Trust, where he served as Chief Financial Officer.

"In the past few months, Antoine has done a remarkable job of taking on the responsibilities of Chief Financial Officer in a particularly complex and unprecedented context. Based on his combined knowledge of the real estate and Cominar's financial and operational environment, he is the ideal choice for the position and has the support of the entire executive team," says Sylvain Cossette, President and Chief Executive Officer of Cominar.

Nathalie Rousseau Joins the Executive Team

Cominar also announces the hiring of Nathalie Rousseau as Executive Vice President, Asset Management and Transactions. Ms. Rousseau has more than 25 years of experience in the real estate industry, including 20 years with Ivanhoé Cambridge where she was responsible for retail asset management across Canada and led numerous major transactions in Canada and internationally. In this newly created role, Ms. Rousseau will be working closely with the executive officers of our office, industrial and retail segments, Bernard Poliquin and Marie-Andrée Boutin, to identify value creation opportunities within the portfolio. Ms. Rousseau will also be responsible for transactions and appraisal.

According to Mr. Cossette, "Nathalie's experience in real estate transaction management, appraisal and asset management will enable us to continue our value creation efforts. Her arrival comes at the right time when we want to continue the momentum we started before the pandemic. Nathalie will also play an important role in our alternative strategic review process."

These two appointments add to an experienced executive team that is dedicated to value creation within its portfolio, sound management of its operations and the development of employee potential in the new work environment.

PROFILE AS AT SEPTEMBER 15, 2020

Cominar is one of the largest diversified real estate investment trusts in Canada and the largest commercial property owner in the Province of Quebec. Our portfolio consists of 315 high-quality office, retail and industrial properties, totalling 35.9 million square feet located in the Montréal, Quebec City and Ottawa areas. Cominar's primary objective is to maximize total return to unitholders by way of tax-efficient distributions and maximizing unit value through the proactive management of our portfolio.

SOURCE COMINAR REAL ESTATE INVESTMENT TRUST

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2020 650 M 485 M 485 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 7,64%
Capitalization 1 361 M 1 015 M 1 016 M
Capi. / Sales 2020 2,09x
Capi. / Sales 2021 2,16x
Nbr of Employees 684
Free-Float 91,9%
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Technical analysis trends COMINAR REAL ESTATE INVESTMENT TRUST
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 8,55 CAD
Last Close Price 7,46 CAD
Spread / Highest target 30,7%
Spread / Average Target 14,6%
Spread / Lowest Target 3,89%
Managers
NameTitle
Sylvain Cossette President, Chief Executive Officer & Trustee
René Tremblay Chairman
Wally Commisso Executive VP-Operations & Property Management
Antoine Tronquoy Chief Financial Officer & Executive Vice President
Mélanie Vallée Vice President-Data & Technology
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