Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Crombie Real Estate ate (TSE:CRR.UN)
TSX:CRR.UN
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.08Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: -2.41%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted Crombie's robust performance across various metrics, successful acquisitions, and strategic asset management. Despite some challenges with non-core assets and higher interest expenses, the overall sentiment is positive due to strong growth in AFFO, effective portfolio optimization, and a solid financial position.Company Guidance
During Crombie REIT's Fourth Quarter Conference Call for fiscal year 2024, a comprehensive update on the company's performance and strategy was provided. Crombie achieved a committed occupancy rate of 96.8%, same-asset property cash NOI growth of 2.9%, and an average annual minimum rent per square foot growth of 3.9%. The company added 225,000 square feet of new leases and renewal spreads of 9.8%, resulting in an AFFO per unit of $1.08, a 6.9% increase from 2023, with an AFFO payout ratio of 82.4%. The debt-to-EBITDA ratio ended at 7.96 times. For capital allocation, Crombie spent approximately $121 million, with 50% allocated to nonmajor initiatives, 35% to major developments, and 15% on grocery-anchored acquisitions. The anticipated yield on cost for their current nonmajor development project pool is between 6.9% and 8%. Crombie's financial strength is also highlighted by a debt-to-gross fair value of 43.6% and available liquidity of $682 million. The strategic focus on necessity-based, grocery-anchored retail properties, supported by a strong partnership with Empire, positions Crombie to navigate economic shifts confidently.Strong Operating Performance
Crombie delivered exceptional performance in 2024 with committed occupancy of 96.8%, same-asset property cash NOI growth of 2.9%, and an average annual minimum rent per square foot growth of 3.9%.
Significant AFFO Growth
AFFO per unit increased by 6.9% from 2023, with a payout ratio now at 82.4%. The AFFO and FFO payout ratios in the fourth quarter were among the lowest in Crombie's history, at 79.7% and 70.3% respectively.
Successful Portfolio Optimization
Crombie added 225,000 square feet of new leases and achieved renewal spreads of 9.8%. The company sold non-core assets with structural vacancies, increasing occupancy by approximately 30 basis points.
Strategic Acquisitions
Crombie completed acquisitions including a 48,000 square foot FreshCo site, a 14,000 square foot IGA store, and the remaining 50% of Zephyr, a mixed-use asset in Vancouver.
Strong Financial Position
Crombie ended 2024 with available liquidity of $682 million and an unencumbered asset pool increased by 40% to $3.7 billion. The company issued $300 million of senior unsecured notes at an interest rate of 4.73%.
---
TSE:CRR.UN 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
---
TSE:CRR.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 19, 2025 | C$14.09 | C$13.99 | -0.71% |
| Nov 06, 2024 | C$14.80 | C$14.63 | -1.15% |
| Aug 07, 2024 | C$13.42 | C$13.40 | -0.15% |
| May 08, 2024 | C$12.36 | C$12.21 | -1.21% |
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 Crombie Real Estate ate (TSE:CRR.UN) report earnings?
Crombie Real Estate ate (TSE:CRR.UN) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Crombie Real Estate ate (TSE:CRR.UN) earnings time?
Crombie Real Estate ate (TSE:CRR.UN) earnings time is at May 07, 2025, TBA Not 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:CRR.UN EPS forecast?
Currently, no data Available
---