CT Real Estate Investment Trust Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 06:27 pm EST
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CT Real Estate Investment Trust reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was CAD 137.48 million compared to CAD 133.16 million a year ago. Net income was CAD 5.2 million compared to CAD 35.19 million a year ago. Basic earnings per share from continuing operations was CAD 0.048 compared to CAD 0.329 a year ago. Diluted earnings per share from continuing operations was CAD 0.048 compared to CAD 0.285 a year ago.
For the nine months, sales was CAD 412.8 million compared to CAD 397.62 million a year ago. Net income was CAD 87.72 million compared to CAD 114.05 million a year ago. Basic earnings per share from continuing operations was CAD 0.813 compared to CAD 1.069 a year ago. Diluted earnings per share from continuing operations was CAD 0.711 compared to CAD 0.913 a year ago.
CT Real Estate Investment Trust is a Canada-based unincorporated, closed-end real estate investment trust (REIT) formed to own income-producing commercial properties located primarily in Canada. The Company's principal objective is to invest primarily in net lease, single tenant assets, is to create unitholder value over the long-term by generating reliable, durable and growing monthly distributions on a tax-efficient basis. To achieve this objective, management is focused on expanding the REIT's asset base while also increasing its adjusted funds from operations (AFFO) per unit. Its portfolio is comprised of over 370 properties totaling approximately 30 million square feet of gross leasable area, consisting primarily of net lease single-tenant retail properties located across Canada. Its property types include development, industrial, mixed use, multi-tenant and single tenant. Its properties are located in various regions, such as Western Canada, Atlantic Canada, Ontario and Quebec.
CT REAL ESTATE INVESTMENT TRUST 
