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Primaris Retail R.E. Invest. Tr. Units

Primaris Retail R.E. Invest. Tr. Units

PMZ-UN · TO · Real Estate / REIT - Retail

23.20CAD-0.18 (-0.77%)

Price History

Full chart

Market Stats

Previous Close23.38
Open23.50
Day Range23.20 – 23.71
52-Week Range14.00 – 23.13
Volume430.63K
Market Cap3.05B
P/E (TTM)21.50
Forward P/E12.22
EPS1.03
Dividend Yield3.97%
Beta1.04
50-Day Avg21.84
200-Day Avg19.31

About

Primaris Real Estate Investment Trust is Canada's only enclosed shopping centre focused REIT. With ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 14.6 million square feet, valued at approximately 5.2 billion US dollars at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape. Primaris Real Estate Investment Trust was incorporated in 2021 in Ontario, Canada.

Company Details

  • SectorReal Estate
  • IndustryREIT - Retail
  • CEOMr. Alexander Danial Avery C.F.A.
  • Employees700
  • Headquarters181 Bay Street, Toronto, ON, Canada, M5J 2T3, Canada
  • Websitehttps://www.primarisreit.com

Leadership

  • Mr. Alexander Danial Avery C.F.A.CEO & Trustee · b. 1978
  • Mr. Patrick James SullivanPresident, COO & Trustee · b. 1970
  • Mr. Raghunath Davloor C.A.Chief Financial Officer · b. 1962
  • Mr. Mordecai BobrowskySenior VP, General Counsel & Corporate Secretary
  • Ms. Leslie BuistSenior Vice President of Finance
  • Mr. Julian SchonfeldtChief Investment Officer
  • Ms. Claire MahaneyVice President of Investor Relations & Sustainability
  • Mr. Graham Thomas ProcterSenior Vice President of Asset Management
  • Ms. Leigh MurraySenior VP & Head of National Leasing

Financials

Income Statement

Currency: CAD2003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue36.23M106.61M148.78M200.46M243.15M265.57M274.40M322.99M365.35M411.03M276.44M274.42M270.23M253.98M380.06M410.97M504.62M652.57M
Growth (%)-+194.26%+39.56%+34.73%+21.30%+9.22%+3.33%+17.71%+13.12%+12.50%-32.74%-0.73%-1.53%-6.01%+49.64%+8.13%+22.79%+29.32%
Cost of Revenue15.18M26.20M38.18M49.64M60.97M69.47M118.69M137.20M161.31M103.30M121.96M122.41M141.76M112.39M168.28M177.34M212.57M279.15M
Gross Profit21.05M80.41M110.61M150.82M182.18M196.10M155.71M185.79M204.04M307.73M154.48M152.01M128.47M141.59M211.79M233.63M292.04M373.42M
Gross Margin58.09%75.42%74.34%75.24%74.93%73.84%56.74%57.52%55.85%74.87%55.88%55.39%47.54%55.75%55.72%56.85%57.87%57.22%
Operating Expense3.23M40.58M67.29M102.09M127.61M132.49M146.84M162.50M12.13M104.51M2.12M846.00K4.45M10.67M25.84M30.11M38.34M22.41M
Operating Income17.82M39.84M43.32M48.73M54.56M63.61M8.87M23.29M191.91M203.22M152.36M151.16M124.02M130.92M185.95M203.51M253.70M351.01M
Operating Margin49.18%37.37%29.11%24.31%22.44%23.95%3.23%7.21%52.53%49.44%55.12%55.08%45.89%51.55%48.93%49.52%50.28%53.79%
EBITDA19.84M58.41M82.17M107.18M133.89M138.88M140.91M243.44M342.40M204.74M152.36M151.16M124.02M130.92M187.81M206.87M164.61M319.87M
EBITDA Margin54.77%54.79%55.22%53.47%55.07%52.29%51.35%75.37%93.72%49.81%55.12%55.08%45.89%51.55%49.42%50.34%32.62%49.02%
Net Income12.07M21.75M17.80M12.30M-30.66M9.78M6.67M65.46M231.80M266.36M-147.69M-44.45M-574.48M354.57M-12.08M102.27M79.47M183.19M
Net Income Margin33.31%20.40%11.97%6.14%-12.61%3.68%2.43%20.27%63.45%64.80%-53.43%-16.20%-212.59%139.61%-3.18%24.89%15.75%28.07%
R&D------------2.11.360.030.24--
R&D as % of Total Revenue------------0.00%0.00%0.00%0.00%--
Interest Expense-----57.50M60.24M77.90M109.40M115.65M0021.08M18.73M32.05M53.62M83.09M134.58M
Interest Expense % of Total Revenue-----21.65%21.95%24.12%29.94%28.14%0.00%0.00%7.80%7.38%8.43%13.05%16.47%20.62%

Balance Sheet

Currency: CAD2003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets504.84M755.22M1.19B1.40B1.64B1.61B1.86B1.97B3.59B4.22B2.73B2.73B2.13B3.25B3.20B3.90B4.27B5.28B
Total Liabilities271.99M432.51M660.66M780.49M1.05B1.08B1.38B1.41B1.82B1.89B1.11B1.16B1.13B1.06B1.11B1.80B2.11B2.75B
Total Equity232.85M322.72M533.22M621.70M590.89M530.22M471.42M560.81M1.77B2.33B1.62B1.58B1.00B2.19B2.09B2.10B2.16B2.53B
Cash682.00K46.89M62.87M99.33M94.20M97.42M15.45M6.50M-45.62M8.03M8.01M15.01M5.64M10.95M44.32M14.77M34.29M
Total Debt262.71M413.24M620.89M727.07M956.17M985.70M1.27B1.34B1.70B155.53M901.62M804.31M301.40M558.42M1.01B1.48B1.71B2.19B
Net Debt262.03M366.35M558.02M627.75M861.96M888.27M1.26B1.33B1.70B109.90M893.59M796.30M286.39M552.78M996.56M1.44B1.70B2.15B

Cash Flow

Currency: CAD2003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow13.70M37.03M53.43M46.66M99.58M82.17M93.09M93.03M173.88M218.04M-140.32M253.25M278.85M-76.17M164.31M166.37M168.32M225.73M
Investing Cash Flow-370.83M-211.68M-246.06M-125.46M-315.16M-34.88M-327.33M-190.56M-591.81M-394.21M-70.24M-159.14M-79.90M-46.09M-112.61M-467.52M-369.25M-669.43M
Financing Cash Flow357.81M220.86M208.60M115.25M210.45M-44.06M152.27M88.57M411.43M221.78M215.11M-94.12M-191.95M112.89M-46.38M334.52M171.38M463.21M
Capital Expenditure54.81M203.19M16.41M35.84M18.99M8.67M327.33M190.65M611.64M28.31M0065.22M24.87M921.00K3.02M16.75M667.00K
Free Cash Flow-41.11M-166.15M37.03M10.82M80.59M73.50M-234.24M-97.61M-437.77M189.74M-140.32M253.25M213.63M-101.04M163.39M163.35M151.57M225.07M
Dividends Paid9.54M29.23M42.14M58.31M70.39M75.82M76.16M80.09M92.73M93.63M-274.00K275.00K274.00K73.44M79.26M81.30M91.29M
FCF to OCF-300.00%-448.65%69.30%23.19%80.93%89.45%-251.64%-104.92%-251.77%87.02%100.00%100.00%76.61%132.65%99.44%98.19%90.05%99.70%
Dividend Paid to FCF-23.20%-17.60%113.81%538.87%87.34%103.16%-32.51%-82.05%-21.18%49.35%-0.11%0.13%-0.27%44.95%48.52%53.64%40.56%

Earnings

Report DateOct 28, 2026
EPS Estimate-
EPS Actual-
Surprise-
TimingAfter-hours

Key Statistics & Ratios

Market Cap3.05B
Enterprise Value4.65B
Trailing P/E21.50
Forward P/E12.22
Price / Sales4.37
Price / Book1.01
EPS1.03
Book Value21.29
Revenue (TTM)698.64M
Gross Profit (TTM)395.80M
EBITDA344.35M
Profit Margin18.59%
Operating Margin48.13%
Return on Equity5.36%
Return on Assets4.17%
Shares Outstanding118.07M
Shares Float106.39M
Beta1.04
Dividend Yield3.97%
Dividend Rate0.88
Payout Ratio84.40%

Dividends

202610×
0.07Oct 30, 20260.07Sep 29, 20260.07Aug 31, 20260.07Jul 31, 20260.07Jun 30, 20260.07May 29, 20260.07Apr 30, 20260.07Mar 31, 20260.07Feb 27, 20260.07Jan 30, 2026
202512×
0.07Dec 31, 20250.07Nov 28, 20250.07Oct 31, 20250.07Sep 29, 20250.07Aug 29, 20250.07Jul 31, 20250.07Jun 30, 20250.07May 30, 20250.07Apr 30, 20250.07Mar 31, 20250.07Feb 28, 20250.07Jan 31, 2025
20242×
0.07Dec 31, 20240.07Nov 29, 2024