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Interrent Reit Un (TSE:IIP.UN)
:IIP.UN
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.18Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 25, 2025
|% Change Since: 17.13%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant achievements in operational performance, including strong revenue growth, record occupancy rates, and improved financial metrics. However, challenges such as the fair value loss on properties, and regional occupancy declines particularly in Ottawa and Vancouver, were also noted. While the highlights indicate a strong overall performance, the presence of notable challenges suggests a need for cautious optimism going forward.Company Guidance
During the Q4 2024 earnings call, InterRent REIT provided several key performance metrics and operational insights. The company reported a year-over-year same-property revenue growth of 7.2% and a total portfolio revenue increase of 4% for 2024. Occupancy rates remained strong, with the total portfolio at 97% and same-property occupancy at 97.1%, marking a 10 basis point increase from the previous year. The average monthly rent for the total portfolio grew by 6.6% year-over-year, reaching $1,702 in December. The REIT achieved a 9.4% increase in same-property NOI for the year, with NOI margins reaching 67.1% for same-property and 67% for the total portfolio, the highest levels in the REIT's history. Financing costs were reduced by 2.3% for the year, contributing to an 11.2% increase in FFO for Q4, with FFO per unit up 11.1% year-over-year. Additionally, AFFO increased by 12.1% to $20.6 million for Q4, and the total debt-to-gross book value stood at 40.3% with a weighted average interest rate of 3.4%. The company also highlighted its strategic asset sales, resulting in $93.3 million in net proceeds, and its ongoing NCIB program, repurchasing 2 million units at an average cost of $10.01 per unit by the end of January 2025.Strong Same-Property Revenue Growth
InterRent REIT experienced a 5.1% year-over-year same-property revenue growth for Q4 and 7.2% for the full year 2024.
Increased Occupancy Rates
The total portfolio occupancy rate improved by 60 basis points quarter-over-quarter, reaching 97%.
Record NOI Margins
Annual NOI margins for the same-property and total portfolio reached 67.1% and 67%, respectively, marking the highest levels in the REIT’s history.
Growth in Average Monthly Rent
Average monthly rent for the total portfolio increased by 6.6% year-over-year to $1,702 as of December 2024.
Reduced Financing Costs
Financing costs were reduced by $1.2 million or 7.7% in Q4 compared to the previous year.
Improved Debt Metrics
Debt service coverage improved to 1.7 times from 1.5 times the previous year.
Positive FFO and AFFO Growth
A 9.9% increase in FFO per unit for Q4 and 11.1% for the full year, along with a 12.1% increase in AFFO per unit.
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TSE:IIP.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
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TSE:IIP.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 25, 2025 | C$9.63 | C$9.84 | +2.18% |
| Nov 04, 2024 | C$11.07 | C$11.06 | -0.09% |
| Aug 06, 2024 | C$12.38 | C$12.12 | -2.10% |
| May 09, 2024 | C$11.55 | C$11.84 | +2.51% |
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.
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FAQ
When does Interrent Reit Un (TSE:IIP.UN) report earnings?
Interrent Reit Un (TSE:IIP.UN) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is Interrent Reit Un (TSE:IIP.UN) earnings time?
Interrent Reit Un (TSE:IIP.UN) earnings time is at May 13, 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:IIP.UN EPS forecast?
Currently, no data Available
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