The earnings call presented a mixed sentiment with stable portfolio management and successful lease renewals being positive aspects. However, the impact of noncash adjustments and decreased occupancy rate pose significant challenges.

Company Guidance -

Q3 2025

During the BTB Real Estate Investment Trust's 2025 Second Quarter Results Conference Call, management provided guidance on various metrics and updates on the company's performance. The quarter showed stable portfolio metrics with minimal investment activity. Key figures include a total leasing activity of approximately 173,000 square feet, with an average rent renewal rate of 4.7%, and an occupancy rate standing at 91.2%, which would have been 92% after a post-quarter property disposition. The fair value of the investment property portfolio remains at $1.2 billion, covering 6.1 million square feet. The company's debt ratio improved, and the payout ratio stood at 75.8% on an AFFO basis for the first six months. Notable transactions included the disposal of properties in Saskatoon and Quebec City for $6.1 million and $10.5 million, respectively. The portfolio's geographical distribution is 54% in Montreal, 21% in Quebec City, among other locations. The company is also actively engaging in further dispositions, potentially amounting to between $80 million and $100 million in gross proceeds.

Stable Portfolio and Successful Lease Renewals

The portfolio remains stable with an occupancy rate at 91.2%, potentially increasing to 92% with recent dispositions. Lease renewals and new leases totaled 172,000 square feet, with a 4.7% average rent renewal rate.

Increase in Industrial Segment

The industrial segment increased from 23% to 36% of the portfolio, reflecting strategic focus on industrial properties.

Cash NOI Growth

Cash NOI increased by 0.5% compared to the same quarter last year, driven by operational improvements and higher rent renewal rates.

AFFO Payout Ratio Improvement

The AFFO adjusted payout ratio improved to 75.8% for the first 6 months and 79.2% for the quarter, indicating efficient cash flow management.

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
Nov 10, 2025	2025 (Q3)	- / -	0.062	―	―	―
Aug 04, 2025	2025 (Q2)	- / 0.07	0.083	-15.66% (-0.01)	―	―
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)	―	―

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$3.29	C$3.34	+1.52%
Feb 24, 2025	C$3.22	C$3.22	0.00%
Nov 04, 2024	C$3.32	C$3.42	+3.01%
May 06, 2024	C$2.88	C$2.85	-1.04%

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 Nov 10, 2025, After Close (Confirmed).

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

BTB REIT Un (TSE:BTB.UN) earnings time is at Nov 10, 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.

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What is TSE:BTB.UN EPS forecast?

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