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True North Commercial Real Estate Investment Trust

True North Commercial Real Estate Investment Trust

TNT-UN · TO · Real Estate / REIT - Office

7.70CAD+0.00 (0.00%)

Price History

Full chart

Market Stats

Previous Close7.70
Open7.70
Day Range7.64 – 7.89
52-Week Range7.50 – 8.82
Volume8.41K
Market Cap109.05M
P/E (TTM)0.00
Forward P/E0.00
EPS-1.70
Dividend Yield9.11%
Beta1.05
50-Day Avg8.44
200-Day Avg8.50

About

True North Commercial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust. The REIT currently owns and operates a portfolio of 37 commercial properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada focusing on long term leases with government and credit rated tenants. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist. True North Commercial Real Estate Investment Trust was incorporated in 2012 in Ontario, Canada.

Company Details

  • SectorReal Estate
  • IndustryREIT - Office
  • CEOMr. Daniel Drimmer
  • Employees0
  • Headquarters3280 Bloor Street West, Toronto, ON, Canada, M8X 2X3, Canada
  • Websitehttps://www.truenorthreit.com

Leadership

  • Mr. Daniel DrimmerCEO & Non-Independent Chairman of the Board · b. 1973
  • Mr. Martin LiddellCFO & Non-Independent Trustee · b. 1971
  • Ms. Tracy C. Sherren C.A., CPACompany Secretary & Non-Independent Trustee · b. 1966

Financials

Income Statement

Currency: CAD2012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue146.00K17.25M23.32M37.12M41.35M56.01M87.07M106.46M139.43M138.52M143.57M132.20M126.91M130.12M
Growth (%)-+11712.33%+35.23%+59.16%+11.40%+35.46%+55.44%+22.27%+30.97%-0.65%+3.65%-7.92%-4.01%+2.53%
Cost of Revenue38.00K6.47M9.28M14.17M16.43M21.48M35.76M44.39M55.69M55.90M57.09M59.66M61.09M63.18M
Gross Profit108.00K10.78M14.04M22.94M24.92M34.54M51.31M62.06M83.74M82.63M86.48M72.55M65.82M66.94M
Gross Margin73.97%62.50%60.21%61.81%60.26%61.66%58.93%58.30%60.06%59.65%60.24%54.88%51.87%51.44%
Operating Expense1.58M2.02M1.64M1.81M2.11M2.57M-14.37M16.05M5.44M13.71M6.05M5.64M5.83M6.18M
Operating Income-1.47M8.76M12.40M21.14M22.81M31.97M65.68M46.01M78.30M68.92M80.43M66.91M59.99M60.76M
Operating Margin-1008.22%50.79%53.18%56.95%55.16%57.07%75.43%43.22%56.16%49.75%56.02%50.61%47.27%46.70%
EBITDA-13.68M10.72M17.28M16.19M15.49M37.94M64.92M46.01M78.30M68.92M81.87M74.38M10.86M59.00K
EBITDA Margin-9369.86%62.15%74.11%43.62%37.45%67.73%74.56%43.22%56.16%49.75%57.02%56.26%8.56%0.05%
Net Income-27.57M13.34M12.98M16.47M-101.00K28.75M49.62M24.18M28.92M51.00M-18.51M-40.62M-20.95M-32.57M
Net Income Margin-18880.82%77.35%55.66%44.37%-0.24%51.32%56.99%22.71%20.74%36.82%-12.89%-30.73%-16.51%-25.03%
R&D----00.510.570.230.290.370.120.31--
R&D as % of Total Revenue----0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%--
Interest Expense-3.12M4.30M7.01M7.31M9.14M16.06M19.96M27.71M27.34M28.86M32.82M31.81M32.63M
Interest Expense % of Total Revenue-18.11%18.45%18.89%17.68%16.32%18.44%18.75%19.88%19.74%20.10%24.83%25.07%25.08%

Balance Sheet

Currency: CAD2012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets15.62M184.47M317.97M347.01M456.47M674.44M939.35M1.38B1.40B1.42B1.45B1.32B1.24B1.17B
Total Liabilities27.37M130.16M215.61M236.46M288.80M426.24M576.26M848.23M879.67M881.11M928.18M870.87M824.23M794.17M
Total Equity-11.75M54.31M102.36M110.55M167.67M248.20M363.09M527.33M525.21M540.07M522.14M452.80M416.00M375.12M
Cash907.00K1.83M2.19M610.00K24.78M7.42M2.49M5.67M24.58M5.48M9.50M8.95M12.33M7.64M
Total Debt10.15M109.09M188.76M207.13M253.47M386.29M531.00M792.58M812.49M820.40M861.09M820.99M767.74M732.88M
Net Debt9.24M107.26M186.58M206.52M228.68M378.87M528.50M786.91M787.91M814.93M851.59M812.05M755.41M725.24M

Cash Flow

Currency: CAD2012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow-206.00K8.75M11.96M20.71M24.35M30.39M53.31M58.59M91.38M77.31M103.27M73.94M75.67M37.95M
Investing Cash Flow-28.88M-153.80M-94.11M-32.55M-94.31M-220.61M-233.46M-418.07M-19.39M-31.74M-72.80M32.45M29.57M2.28M
Financing Cash Flow30.90M145.97M82.51M10.26M94.14M172.85M175.23M362.65M-53.08M-64.68M-26.45M-106.94M-101.85M-44.92M
Capital Expenditure045.00K000006.33M09.38M0000
Free Cash Flow-206.00K8.70M11.96M20.71M24.35M30.39M53.31M64.92M91.38M86.69M103.27M73.94M75.67M37.95M
Dividends Paid-4.22M5.50M9.30M10.15M17.15M26.63M31.40M42.24M45.48M47.15M31.15M07.45M
FCF to OCF100.00%99.49%100.00%100.00%100.00%100.00%100.00%110.80%100.00%112.13%100.00%100.00%100.00%100.00%
Dividend Paid to FCF-48.48%45.99%44.92%41.68%56.42%49.94%48.36%46.22%52.46%45.66%42.12%0.00%19.64%

Earnings

Report DateNov 10, 2026
EPS Estimate-
EPS Actual-
Surprise-
TimingAfter-hours

Key Statistics & Ratios

Market Cap109.05M
Enterprise Value841.66M
Trailing P/E0.00
Forward P/E0.00
PEG Ratio0.00
Price / Sales0.85
Price / Book0.31
EPS-1.70
Book Value26.15
Revenue (TTM)128.60M
Gross Profit (TTM)67.66M
Profit Margin-18.48%
Operating Margin43.25%
Return on Equity-6.19%
Return on Assets3.25%
Shares Outstanding14.07M
Shares Float12.36M
Beta1.05
Dividend Yield9.11%
Dividend Rate0.69
Payout Ratio604.65%

Dividends

202610×
0.06Oct 30, 20260.06Sep 29, 20260.06Aug 31, 20260.06Jul 31, 20260.06Jun 30, 20260.06May 29, 20260.06Apr 30, 20260.06Mar 31, 20260.06Feb 27, 20260.06Jan 30, 2026
202510×
0.06Dec 31, 20250.06Nov 28, 20250.06Oct 31, 20250.06Sep 29, 20250.06Aug 29, 20250.06Jul 31, 20250.06Jun 30, 20250.06May 30, 20250.06Apr 30, 20250.06Mar 31, 2025
20234×
0.14Oct 30, 20230.14Sep 28, 20230.14Aug 30, 20230.14Jul 28, 2023

Stock Splits

  • Nov 24, 2023173:1000