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

Business Focus: Commercial REITs (NEC)

Sector:  Real Estate Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 26 Wellington Street East, Suite 400
Tel: 1-416-6427837
Website: N/A
Key People
Patrick Sullivan
President, Chief Operating Officer, Trustee
Alex Danial Avery
Chief Executive Officer, Trustee
Rags Davloor
Chief Financial Officer
Leslie Buist
Senior Vice President - Finance
Mordecai Bobrowsky
Senior Vice President - Legal
Graham Procter
Senior Vice President - Asset Management
Business Overview
Primaris Real Estate Investment Trust is a Canada-based shopping center focused real estate investment trust (REIT). The Company owns, operates and develops retail properties across Canada. The Company is focused primarily on dominant enclosed shopping center properties in primary and secondary Canadian markets. The portfolio of retail properties is primarily comprised with the remainder of the properties being unenclosed shopping centers and mixed-use properties and one industrial center adjacent to Lansdowne Place. The Company portfolio totals approximately 11.4 million square feet. Its portfolio includes urban properties and enclosed malls including Dufferin Grove, Orchard Park in Kelowna, Place d'Orleans in Ottawa, Kildonan Place in Winnipeg, Sherwood Park in Edmonton and Sunridge Mall and Marlborough Mall in Calgary.
Financial Overview
For the three months ended 31 March 2022, Primaris Real Estate Investment Trust revenues increased 50% to C$91.8M. Net income decreased 74% to C$30M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income was offset by FV Adjustments on Investment Property increase from C$91.9M (income) to C$7.8M (expense), Salaries.
Reporting Currency: Canadian Dollars
Enterprise value: $2,180M as of Mar 31, 2022
Annual revenue (TTM): N/A
Net annual income (TTM): N/A
Free cash flow (TTM): N/A
Net Debt Last Fiscal Year: $909.27M as of Mar 31, 2022
Shares outstanding: 101,437,417 as of Apr 6, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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