Financials InterRent Real Estate Investment Trust

Equities

IIP.UN

CA46071W2058

Residential REITs

Market Closed - Toronto S.E. 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
12.12 CAD -0.08% Intraday chart for InterRent Real Estate Investment Trust +0.75% -8.39%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 1,896 1,892 2,417 1,814 1,914 1,760 -
Enterprise Value (EV) 1 1,896 1,892 2,417 3,464 1,914 3,510 1,760
P/E ratio - - - - - - -
Yield 1.88% 2.28% 1.9% 2.7% - 3.14% 3.26%
Capitalization / Revenue 13.1 x 11.8 x 13.1 x 8.38 x 8.07 x 6.88 x 6.53 x
EV / Revenue 13.1 x 11.8 x 13.1 x 16 x 8.07 x 13.7 x 6.53 x
EV / EBITDA 22.5 x 20.9 x 23.1 x 28 x 13.8 x 22.6 x 10.5 x
EV / FCF - 63.8 x -32.9 x - - -439 x 1,760 x
FCF Yield - 1.57% -3.04% - - -0.23% 0.06%
Price to Book 1.1 x 0.94 x 1.03 x - - - -
Nbr of stocks (in thousands) 121,259 138,205 139,606 141,709 144,648 145,185 -
Reference price 2 15.64 13.69 17.31 12.80 13.23 12.12 12.12
Announcement Date 3/3/20 3/15/21 3/8/22 3/7/23 2/29/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 145.3 160 185.1 216.4 237.1 255.9 269.4
EBITDA 1 84.16 90.54 104.4 123.7 139 155 167
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) - - - 104 - - -
Net income - - - - - - -
Net margin - - - - - - -
EPS - - - - - - -
Free Cash Flow 1 - 29.66 -73.47 - - -8 1
FCF margin - 18.54% -39.68% - - -3.13% 0.37%
FCF Conversion (EBITDA) - 32.75% - - - - 0.6%
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.2933 0.3126 0.3282 0.3450 - 0.3800 0.3950
Announcement Date 3/3/20 3/15/21 3/8/22 3/7/23 2/29/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 46.87 50.26 51.86 52.83 54.85 56.86 57.74 58.96 59.6 61.53 61.84 63.1 63.3 63.87 64.8
EBITDA 1 - - - - - - - - 35.82 35.97 36.5 - - - -
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - 32.67 -101 - - - - - - - - -
Net income - - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS - - - - - - - - - - - - - - -
Dividend per Share 0.0814 0.0841 - - - - - - - - - - - - -
Announcement Date 11/8/21 3/8/22 5/10/22 8/9/22 11/10/22 3/7/23 5/9/23 8/2/23 11/1/23 2/29/24 - - - - -
1CAD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - 1,650 - 1,750 -
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - 13.34 x - 11.29 x -
Free Cash Flow 1 - 29.7 -73.5 - - -8 1
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets - - - - - - -
Book Value Per Share 14.20 14.60 16.90 - - - -
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 3/3/20 3/15/21 3/8/22 3/7/23 2/29/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
12.12 CAD
Average target price
15.1 CAD
Spread / Average Target
+24.59%
Consensus

Quarterly revenue - Rate of surprise

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