Primaris Real Estate Investment Trust (T:PMZ*CA)

Business Focus: Commercial REITs (NEC)

Sector:  Real Estate Industry:  Commercial REITs
 
Company Contact
Address: Brookfield Place
181 Bay Street, Suite 2720
TORONTO ON M5J 2T3
Tel: 1-416-6427837
Website: https://www.primarisreit.com
IR: See website
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Key People
Patrick Sullivan
President, Chief Operating Officer, Trustee
Leigh Murray
Vice President, Leasing East
Alex Danial Avery
Chief Executive Officer
Raghunath Davloor
Chief Financial Officer
Leslie Buist
Senior Vice President - Finance
Brenda Huggins
Senior Vice President - Human Resources
Mordecai Bobrowsky
Senior Vice President - Legal, Secretary
Graham Procter
Senior Vice President - Asset Management
Laurel Adamson
Vice President, Leasing West
Joseph Martino
Vice President - Information Technology
   
Business Overview
Primaris Real Estate Investment Trust is a Canada-based company, which operates as an enclosed shopping center-focused real estate investment trust (REIT). The Company owns and manages 35 retail properties aggregating approximately 11.4 million square feet, including 22 enclosed shopping centers totaling approximately 9.8 million square feet and 13 unenclosed shopping center and mixed-use properties aggregating approximately 1.6 million square feet. Its properties include Cataraqui Centre, Devonshire Mall, Dufferin Mall, Grant Park Shopping Centre, Highstreet Shopping Centre, Kildonan Place, Lansdowne Place, Marlborough Mall, McAllister Place, Medicine Hat Mall, New Sudbury Centre, Northland Village, Orchard Park Shopping Centre, Park Place Mall, Peter Pond Mall, Place d'Orleans, Place du Royaume, Quinte Mall, Regent Mall, Sherwood Park Mall, Sunridge Mall, and St. Albert Centre. The Company also owns Conestoga Mall in Waterloo, Ontario.
Financial Overview
For the fiscal year ended 31 December 2023, Primaris Real Estate Investment Trust revenues increased 8% to C$411M. Net income totaled C$102.3M vs. loss of C$12.1M. Revenues reflect Funds from Operations - Per Share - Basi increase of 1% to C$1.6, Funds from Operations - Per Share - Dilu increase of 1% to C$1.59. Net Income reflects Investment Properties segment income increase from C$17.7M to C$153.8M.
Employees: 400 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $2,901M as of Dec 31, 2023
Annual revenue (TTM): $410.97M as of Dec 31, 2023
EBITDA (TTM): $199.52M as of Dec 31, 2023
Net annual income (TTM): $102.27M as of Dec 31, 2023
Free cash flow (TTM): $126.81M as of Dec 31, 2023
Net Debt Last Fiscal Year: $1,630M as of Dec 31, 2023
Shares outstanding: 96,384,736 as of Apr 8, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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