Earnings
January 23, 2020 - RCI.B
New! Rogers Communications Inc. 2019 Earnings & Price Target Update .....
January 22, 2020 - REI.UN
New! RioCan REIT- Q3-2019 Earnings & Price Target Update .....
January 21, 2020 - GH
Gamehost Inc. - Q3-2019 Earnings, Price Target Update .....
January 17, 2020 - FCD.UN
Firm Capital Property Trust: Q3-2019 Earnings, Price Target Update .....
January 17, 2020 - CNR
Canadian National Railway Co. Q3-2019 Earnings, Price Target .....
January 15, 2020 - IAG
iA Financial Corporation Inc. Q3-2019 Earnings, Price Target .....
January 14, 2020 - IVQ.U
Invesque Inc. Q3-2019 Earnings, Price Target Update .....
January 12, 2020 - CHP.UN
Choice Properties REIT - Q3-2019 Earnings, Price Target Update .....
Recommendation Changes
IVQ.U, BPY.UN, SLF, CHW, NA, more...

Choice Properties REIT - Q3-2019 Earnings, Price Target Update

This is only a sample of the article, please login to view the entire article

Choice Properties REIT (CHP.UN) portfolio consists of 726 properties totaling 65.5M sq. ft. with a fair value of $15.5B as at Sept-30-2019. This is a decrease from 756 properties comprising 68M sq. ft. at Jun-30-2019 with a fair value of $15.8B. They sold 30 shopping centre properties previously acquired from Loblaws (L-TSX) during Q3-2019. George Weston Group (WN-TSX) who control Loblaw's owns approximately 65% of Choice Properties REIT. In May-2018 Choice Properties REIT merged with Canadian Real Estate Investment Trust (REF.UN) increasing the number of properties from 540 to 751 and total assets from $9.9B to $15.6B. They transformed Choice Properties REIT from a shopping centre retail focused REIT to a more diversified portfolio better able to compete with intrusion of the internet into the retail sector. Choice Properties has further growth potential across the expanded portfolio with greenfield, intensification, redevelopment and residential opportunities. The portfolio comprised of retail properties, predominately leased to necessity-based tenants, industrial, office and residential assets concentrated in major markets. The strategic alliance with its principal tenant, Loblaw who are controlled by George Weston(WN) aligns the interests of the major shareholder with Choice Properties REIT.

Choice Properties' portfolio includes 576 retail properties, 112 industrial properties, 15 office complexes, 4 multi-family residential buildings and 19 development properties. The retail properties are made up of: (i) 280 properties with a stand-alone Loblaw-bannered retail store; (ii) 233 properties anchored by a retail store operating under a Loblaw banner that also contains one or more third-party tenants; and (iii) 63 properties containing only third-party tenants. Approximately 72% of base rent for Q3-2019 was derived from properties in large and medium urban markets and 57% from large urban markets, with a particular concentration in Toronto, Calgary, Vancouver, Montreal, Edmonton and Ottawa.

Capital Development

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
January 24, 2020
New! Coverage Universe - Weekly Price Change: Jan 17-24, 2020
January 17, 2020
Coverage Universe - Weekly Price Change: Jan 10-17, 2020
January 10, 2020
Coverage Universe - Weekly Price Change: Jan 3-Jan 10, 2020
January 4, 2020
Coverage Universe - Weekly Price Change: Dec 27, 2019 - Jan 3, 2020
December 28, 2019
Coverage Universe - Weekly Price Change: Dec 20-27, 2019
December 20, 2019
Coverage Universe - Weekly Price Change: Dec 13-20, 2019
December 13, 2019
Coverage Universe - Weekly Price Change: Dec 6-13, 2019
December 6, 2019
Coverage Universe - Weekly Price Change: Nov 29-Dec 6, 2019