Financials Pro Real Estate Investment Trust

Equities

PRV.UN

CA7426943006

Commercial REITs

Market Closed - Toronto S.E. 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
5.11 CAD +0.20% Intraday chart for Pro Real Estate Investment Trust +0.59% +7.13%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 275 233.4 400.4 351.9 282.6 302.9 -
Enterprise Value (EV) 1 275 233.4 400.4 858.7 282.6 787.6 794.4
P/E ratio - - - - - - -
Yield 8.54% 8.17% 6.63% 7.55% - 8.81% 8.81%
Capitalization / Revenue 4.77 x 3.34 x 5.15 x 3.62 x 2.83 x 2.97 x 2.83 x
EV / Revenue 4.77 x 3.34 x 5.15 x 8.83 x 2.83 x 7.73 x 7.42 x
EV / EBITDA 8.92 x 6.37 x 9.55 x 16.1 x 5.22 x 14.4 x 13.9 x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book - - - - - - -
Nbr of stocks (in thousands) 37,268 38,510 58,968 59,048 59,249 59,281 -
Reference price 2 7.380 6.060 6.790 5.960 4.770 5.110 5.110
Announcement Date 3/25/20 3/24/21 3/23/22 3/22/23 3/20/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 57.63 69.81 77.67 97.21 99.89 101.9 107
EBITDA 1 30.84 36.62 41.94 53.32 54.11 54.59 57.03
EBIT 30.28 35.94 - - - - -
Operating Margin 52.54% 51.49% - - - - -
Earnings before Tax (EBT) - - - - - - -
Net income - - - 84.49 - - -
Net margin - - - 86.92% - - -
EPS - - - - - - -
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.6300 0.4950 0.4500 0.4500 - 0.4500 0.4500
Announcement Date 3/25/20 3/24/21 3/23/22 3/22/23 3/20/24 - -
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
Net sales 1 19.59 22.93 24.33 23.72 24.09 25.07 25.28 24.94 24.05
EBITDA 1 11.04 12.21 - 13.18 13.7 13.41 13.56 13.06 13.44
EBIT - - - - - - - - -
Operating Margin - - - - - - - - -
Earnings before Tax (EBT) - - - 11.97 - - - - -
Net income - - - 11.97 - - - - -
Net margin - - - 50.45% - - - - -
EPS - - - - - - - - -
Dividend per Share - 0.1125 0.1125 - - - - - -
Announcement Date 11/10/21 3/23/22 5/11/22 8/10/22 11/9/22 3/22/23 5/10/23 8/9/23 11/8/23
1CAD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - 507 - 485 492
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - 9.505 x - 8.878 x 8.619 x
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets - - - - - - -
Book Value Per Share - - - - - - -
Cash Flow per Share - - - - - - -
Capex 1 - - 5.19 10.6 - 15 15.2
Capex / Sales - - 6.69% 10.91% - 14.72% 14.24%
Announcement Date 3/25/20 3/24/21 3/23/22 3/22/23 3/20/24 - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
5.11 CAD
Average target price
6.143 CAD
Spread / Average Target
+20.21%
Consensus

Quarterly revenue - Rate of surprise

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