Choice Properties Real Estate Investment Trust (PPRQF)
OTHER OTC:PPRQF
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.1Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple operational and financial strengths: high and improving occupancy, solid same-asset NOI and FFO growth, strong industrial performance with substantial mark-to-market upside, active and accretive development pipeline, robust capital recycling, and a healthy balance sheet with ample liquidity. Lowlights were focused and limited: a quarter-over-quarter NAV dip driven by mark-to-market losses (notably Allied), modest pressures in select residential assets, some short-term finance and timing offsets to quarterly results, and sensitivity of 2026 guidance to leasing execution. Overall, the positives (broad portfolio resilience, development value creation, liquidity and strong industrial leasing) materially outweigh the contained negatives.Company Guidance
Strong Occupancy and Leasing Momentum
Portfolio occupancy rose 20 basis points to 98.2% in Q4 2025; retail occupancy up 20 bps to 98.0% and industrial occupancy up 50 bps to 98.8%. Quarterly leasing retention rates were high (portfolio 92.4%; industrial 93.8%) with 1.6 million sq ft of leases completed in the quarter and 233,000 sq ft of new leasing.
Same-Asset NOI and FFO Growth
Full-year same-asset cash NOI growth of 2.2%; Q4 same-asset cash NOI growth of 2.4% (increase of $5.9 million). Reported FFO for Q4 was $189.9 million or $0.262 per unit (up 0.8% YoY). Full-year FFO per unit grew 3.6%.
Industrial Outperformance and Mark-to-Market Upside
Industrial same-asset cash NOI increased 6.2% YoY. Industrial leasing delivered renewals across >1 million sq ft at an average spread of 26% (excluding 514,000 sq ft with a fixed-option renewal, spreads average ~40%), and new industrial rents were ~31% above average in-place rents, highlighting substantial embedded growth.
Development Execution and Value Creation
In 2025 Choice transferred 17 commercial projects (836,000 sq ft) at an average yield of 7.4%, creating ~$47 million of value. Q4 development deliveries included three projects (601,000 sq ft) at a blended yield of 7.8% and quarter development spend of ~$40 million; full-year development spend was ~$237 million.
Active Capital Recycling and Strategic Transactions
2025 capital recycling totaled $801 million ( $460 million acquisitions, $341 million dispositions; net acquisition activity +$119 million). Q4 transactions totaled ~$261 million ( $67 million acquisitions, $195 million dispositions), including a strategic 50/50 JV with Wittington and dispositions completed above IFRS values.
Balance Sheet Strength and Liquidity
Ended the year with debt-to-EBITDA ~7.0x, $1.6 billion of available liquidity (corporate facility + cash) and $13.8 billion of unencumbered properties, with no material near-term maturities until a $350 million debenture in November.
Distribution Increase
Board approved a fourth consecutive distribution increase to $0.78 per unit effective March 2026, a 1.3% increase from the prior year.
Choice Properties Real Estate Investment (PPRQF) Earnings, Revenues Date & History
PPRQF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PPRQF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $11.46 | $11.82 | +3.17% |
Nov 05, 2025 | $10.37 | $10.45 | +0.76% |
Jul 18, 2025 | $10.41 | $10.69 | +2.69% |
Apr 23, 2025 | $9.93 | $10.12 | +1.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Choice Properties Real Estate Investment Trust (PPRQF) report earnings?
Choice Properties Real Estate Investment Trust (PPRQF) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Choice Properties Real Estate Investment Trust (PPRQF) earnings time?
Choice Properties Real Estate Investment Trust (PPRQF) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What is PPRQF EPS forecast?
Currently, no data Available