Explore 3 Stock Ideas & Industry Insights Download Free Report

888-969-2592
Shopping Cart 0
countryflagCA
Login

Home CompaniesTrue North Commercial Real Estate Investment Trust

True North Commercial Real Estate Investment Trust

Real Estate REIT - Office
PortfolioPortfolio WatchlistWatchlist
Company price
7.37 CAD -0.01 ( 0.14%)
Last update at 2026-11-03T20:41:00Z
VOLUME
6678
Market Cap
151.76M

Momentum Score

…

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 44 commercial properties consisting of approximately 4.8 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.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
7.37
Low
7.41
High
52 Week Price Range
6.36
Low
35.38
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

True North Commercial Real Estate Investment Trust is a Toronto Stock Exchange-listed REIT that owns and manages a portfolio of Canadian commercial properties that generate rental income. Long-term growth drivers include rental-rate recovery, portfolio re-leasing and selective acquisitions, and active asset management, which may benefit cash flow and distributions and appears positioned to offer income plus modest capital appreciation.

Primary risks include sensitivity to interest rates and commercial real estate cycles, exposure to vacancy or tenant-concentration pressure, and leverage and execution risks from acquisitions and redevelopments; investors should monitor funding costs and occupancy trends.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
7.38
Dividend Yield
18.36%
Revenue TTM
134.79M
Revenue Per Share
8.42
Gross Profit TTM
86.48M
Debt / Equity
1.65
ROE
-11.10%
Net Debt
851.59M
ROCE
5.71%
Diluted EPS TTM
-3.55

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Income before tax -56.59M 16.53M 51.00M 39.75M 24.18M
Net income -56.59M -18.51M 51.00M 28.92M 24.18M
Selling general administrative 6.18M 6.05M 6.91M 5.76M 5.53M
Gross profit 75.83M 86.48M 82.63M 83.74M 62.06M
Ebit - 80.43M 75.80M 78.18M 56.53M
Ebitda - 81.87M 68.92M 78.30M 46.01M
Depreciation and amortization - 1.44M - - -
Operating income 69.65M 80.43M 68.92M 78.30M 46.01M
Other operating expenses - 63.15M 62.80M 61.45M 49.93M
Interest expense 32.05M 28.86M 27.34M 27.71M 19.96M
Interest income 0.03M 0.04M 0.05M 0.03M -
Net interest income -33.48M -30.33M -30.55M -31.17M -23.55M
Income tax expense - 35.04M -9.43M 10.84M 1.87M
Total revenue 134.79M 143.57M 138.52M 139.43M 106.46M
Total operating expenses 65.14M 6.05M 6.91M 5.76M 5.53M
Cost of revenue 58.96M 57.09M 55.90M 55.69M 44.39M
Total other income expense net -92.76M -63.90M -17.91M -38.55M -21.83M
Net income from continuing ops -56.59M 16.53M 51.00M 39.75M 24.18M
Net income applicable to common shares - 16.53M 51.00M 39.75M 24.18M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 1450.32M 1421.18M 1404.88M 1375.56M 939.35M
Other current assets 5.22M 2.88M 1.52M 3.20M 4.12M
Total liab 928.18M 881.11M 879.67M 848.23M 576.26M
Total stockholder equity 522.14M 540.07M 525.21M 527.33M 363.09M
Other current liab 7.23M 8.67M 8.43M 13.72M 4.53M
Common stock 563.28M 544.12M 528.17M 519.20M 341.04M
Capital stock 563.28M 544.12M 528.17M 519.20M 341.04M
Retained earnings -41.14M -4.05M -2.96M 8.13M 22.05M
Other liab - - 3.70M - -
Other assets 2.83M 5.56M 4.09M 0.91M 1.25M
Cash 9.50M 5.48M 24.58M 5.67M 2.49M
Total current liabilities 230.16M 177.21M 75.59M 138.64M 70.92M
Current deferred revenue 8.26M 8.11M 7.59M 5.28M -
Net debt 851.59M 814.93M 787.91M 786.91M 528.50M
Short term debt 177.70M 139.23M 36.44M 111.23M 49.81M
Short long term debt 177.70M 139.23M 36.44M 111.23M 49.81M
Short long term debt total 861.09M 820.40M 812.49M 792.58M -
Other stockholder equity - - - - 341.04M
Property plant equipment 1340.58M 1403.58M 1372.18M 1362.52M 928.14M
Total current assets 106.29M 12.04M 28.60M 12.13M 9.83M
Long term investments - - - - 0.14M
Net tangible assets 522.14M 540.07M 525.21M 527.33M 363.09M
Net receivables 7.32M 3.69M 2.50M 3.24M 2.79M
Long term debt 683.39M 681.17M 776.04M 681.35M 481.18M
Inventory 84.25M - - - -
Accounts payable 36.97M 21.21M 23.12M 15.28M 12.12M
Accumulated other comprehensive income - - - - 22.05M
Non currrent assets other 1344.02M 1409.13M - 1363.43M 929.52M
Non current assets total 1344.02M 1409.13M 1376.28M 1363.43M 929.52M
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Investments 17.89M -72.80M -31.74M -19.39M -418.07M
Change to liabilities - 12.51M -4.17M 3.52M -0.86M
Total cashflows from investing activities - -72.80M -31.74M -19.39M -418.07M
Net borrowings - 41.88M 6.58M 18.51M 260.55M
Total cash from financing activities -107.08M -26.45M -64.68M -53.08M 362.65M
Change to operating activities - 0.07M -0.75M 3.59M 0.38M
Net income -56.59M 16.53M 51.00M 39.75M 24.18M
Change in cash -1.35M 4.03M -19.10M 18.91M 3.18M
Begin period cash flow 7.74M 5.48M 24.58M 5.67M 2.49M
End period cash flow 6.38M 9.50M 5.48M 24.58M 5.67M
Total cash from operating activities 87.84M 103.27M 77.31M 91.38M 58.59M
Issuance of capital stock - 9.04M 3.23M - 153.73M
Dividends paid 38.91M 48.63M 47.18M 42.24M 31.40M
Change to account receivables - 1.06M -1.20M 0.73M -0.44M
Sale purchase of stock - - - -0.31M 297.14M
Other cashflows from financing activities - 161.58M 129.81M 121.77M 276.91M
Change to netincome - 71.58M 31.05M 42.64M 34.27M
Capital expenditures 0.00M 0.00M 0.00M 0.00M 0.00M
Change in working capital 9.26M 13.63M -6.11M 12.29M -0.92M
Stock based compensation 0.09M 0.09M 1.25M -0.05M 1.30M
Other non cash items 43.70M 73.02M 31.17M 39.39M 34.04M
Free cash flow 87.84M 103.27M 77.31M 91.38M 58.59M

Peer Comparison*

Sector: Real Estate Industry: REIT - Office

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
TNT-UN
True North Commercial Real Estate Investment Trust		 -0.01
0.14%		 7.37 - - 1.13 0.32 7.16 -39.32
AP-UN
Allied Properties Real Estate Investment Trust		 -0.33
8.17%		 3.71 - 9.52 4.60 0.38 10.87 84.47
D-UN
Dream Office Real Estate Investment Trust		 -0.16
1.01%		 15.68 - 13.39 2.20 0.28 8.65 -38.01
BTB-UN
BTB Real Estate Investment Trust		 -
-%		 3.63 7.33 7.28 2.11 0.55 7.77 13.96
INO-UN
Inovalis Real Estate Investment Trust		 -0.03
4.69%		 0.61 - - 1.97 0.18 7.03 -8.93

Profile*

True North Commercial Real Estate Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 44 commercial properties consisting of approximately 4.8 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.

3280 Bloor Street West, Toronto, ON, Canada, M8X 2X3

(416) 234-8444

https://www.truenorthreit.com

Name Title Year Born
Mr. Daniel Drimmer Cook Chairman & CEO 1973
Ms. Tracy C. Sherren C.A., CPA, CA, CPA Pres, CFO, Company Sec. & Trustee 1966

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

Kalkine

3 Mining Stock
Ideas Report

Download a free report with stock ideas and industry insights for general information.

Download Free Report Now → sector image

Top Stocks by Market Cap*

VNP
CAD 32.54
+24.44%
HUT
CAD 88.32
+14.81%
KEEL
CAD 3.05
+14.66%
MTY
CAD 36.63
+13.58%
CNL
CAD 15.98
+11.90%
MOON
CAD 4.72
-12.34%
EU
CAD 0.96
-8.57%
URE
CAD 1.02
-8.48%
AP-UN
CAD 3.71
-8.17%
HG
CAD 3.77
-8.05%

Equity Sectors*

  • Basic Materials

    -1.14%

  • Communication Services

    +0.65%

  • Consumer Cyclical

    +0.09%

  • Consumer Defensive

    -0.57%

  • Energy

    -0.15%

  • Financial Services

    +0.08%

  • Healthcare

    +2.18%

  • Industrials

    +2.04%

  • Real Estate

    -0.25%

  • Technology

    +1.02%

  • Utilities

    +0.66%

Note: Daily price change (%) by sector excluding stocks with +/-90% daily price change. Companies above $500 million market capitalization are considered.

Support

Hi! How can we help you today?

Loading…