The earnings call highlighted strong rental revenue growth, increased net operating income, and positive leasing activity, alongside improvements in FFO and AFFO ratios and significant ESG achievements. However, challenges such as a decline in occupancy rates, debt refinancing difficulties, and softness in the industrial sector were also noted.

Company Guidance -

Q1 2025

During the BTB Real Estate Investment Trust 2025 First Quarter Results Conference Call, key financial metrics were discussed, highlighting the positive performance and strategic initiatives of the company. BTB reported a total asset value of $1.3 billion, with 6.1 million square feet of real estate across 75 properties. The portfolio's occupancy rate stood at 92.5%, with a committed occupancy rate of 92.5% as well. Rental revenue increased by 5.4% to $34.4 million, and net operating income rose by 8% to $19.8 million, driven by higher rents and cancellation payments. The AFFO adjusted payout ratio improved to 72.7% from 83.9% the previous year, reflecting increased net operating income. The company issued Series I convertible debentures with a 7.25% coupon, raising $40.25 million, and used the proceeds to redeem Series H debentures and reduce credit facility debt. BTB maintained its distribution to unitholders at $0.075 per unit, resulting in an annualized distribution of $0.30 per unit. The total debt ratio was 57.7%, and liquidity improved significantly to nearly $31 million. Leasing activity included securing new long-term tenants, such as the Government of Canada, and achieving a 5.1% lease renewal spread.

Strong Rental Revenue Growth

Rental revenue for Q1 2025 stood at $34.4 million, marking a 5.4% increase compared to the same quarter last year.

Net Operating Income Increase

Net operating income totaled $19.8 million, an increase of 8% compared to the same quarter last year, driven by a $1 million cancellation payment among other factors.

Positive Leasing Activity

A total of 138,000 square feet was leased, including a significant 22,000 square foot transaction with the Government of Canada and a 30,352 square foot lease with Value Village.

Improved FFO and AFFO Ratios

FFO adjusted per unit increased by 8.8% to $0.111, while the AFFO payout ratio improved to 72.7% from 83.9% last year.

ESG Achievements

60% of suburban office and retail buildings have environmental certifications, and energy consumption data for 98% of buildings was compiled.

BTB REIT (TSE:BTB.UN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:BTB.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 11, 2025	2025 (Q2)	- / -	0.083	―	―	―
May 05, 2025	2025 (Q1)	- / 0.09	0.082	4.88% (<+0.01)	―	―
Feb 24, 2025	2024 (Q4)	- / 0.21	0.02	965.00% (+0.19)	―	―
Nov 04, 2024	2024 (Q3)	- / 0.06	0.175	-64.57% (-0.11)	―	―
Aug 05, 2024	2024 (Q2)	- / 0.08	0.125	-33.60% (-0.04)	―	―
May 06, 2024	2024 (Q1)	- / 0.08	0.102	-19.61% (-0.02)	―	―
Feb 26, 2024	2023 (Q4)	- / 0.02	0.021	-4.76% (>-0.01)	―	―
Nov 06, 2023	2023 (Q3)	- / 0.17	0.137	27.74% (+0.04)	―	―
Aug 07, 2023	2023 (Q2)	- / 0.13	0.215	-41.86% (-0.09)	―	―
May 09, 2023	2023 (Q1)	- / 0.10	0.083	22.89% (+0.02)	―	―

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

TSE:BTB.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 05, 2025	C$3.34	C$3.39	+1.50%
Feb 24, 2025	C$3.26	C$3.26	0.00%
Nov 04, 2024	C$3.36	C$3.47	+3.27%
May 06, 2024	C$2.92	C$2.89	-1.03%

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 BTB REIT Un (TSE:BTB.UN) report earnings?

BTB REIT Un (TSE:BTB.UN) is schdueled to report earning on Aug 11, 2025, After Close (Confirmed).

What is BTB REIT Un (TSE:BTB.UN) earnings time?

BTB REIT Un (TSE:BTB.UN) earnings time is at Aug 11, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:BTB.UN EPS forecast?

Currently, no data Available

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing