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Primaris Real Estate Investment Trust
(TSX:PMZ.UN)
Primaris Real Estate Investment Trust (PMZ.UN) vs. iShares MSCI Canada ETF (EWC)
Primaris Real Estate Investment Trust Business Overview & Revenue Model
Primaris Real Estate Investment Trust Earnings Call Summary
Primaris Real Estate Investment Trust Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 536.47M | 504.62M | 410.97M | 380.06M | 253.98M | 270.23M |
| Gross Profit | 309.59M | 292.04M | 233.63M | 211.79M | 141.59M | 128.47M |
| EBITDA | 162.99M | 164.61M | 206.87M | 187.81M | 130.92M | 124.02M |
| Net Income | 64.74M | 79.47M | 102.27M | -12.08M | 354.57M | -574.48M |
Balance Sheet | ||||||
| Total Assets | 4.60B | 4.27B | 3.90B | 3.20B | 3.25B | 2.13B |
| Cash, Cash Equivalents and Short-Term Investments | 59.46M | 114.77M | 44.32M | 10.95M | 5.64M | 15.01M |
| Total Debt | 1.86B | 1.71B | 1.48B | 1.01B | 558.42M | 301.40M |
| Total Liabilities | 2.40B | 2.11B | 1.80B | 1.11B | 1.06B | 1.13B |
| Stockholders Equity | 2.20B | 2.16B | 2.10B | 2.09B | 2.19B | 1.00B |
Cash Flow | ||||||
| Free Cash Flow | 162.56M | 151.57M | 163.35M | 163.39M | -101.04M | 213.63M |
| Operating Cash Flow | 182.28M | 168.32M | 166.37M | 164.31M | -76.17M | 278.85M |
| Investing Cash Flow | -458.97M | -369.25M | -467.52M | -112.61M | -46.09M | -79.90M |
| Financing Cash Flow | 261.83M | 171.38M | 334.52M | -46.38M | 112.89M | -191.95M |
Primaris Real Estate Investment Trust Technical Analysis
Primaris Real Estate Investment Trust Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | C$3.77B | 8.49 | 11.23% | 8.04% | 4.54% | 68.32% | |
78 Outperform | C$4.33B | 18.32 | 4.75% | 7.31% | 10.06% | -19.26% | |
76 Outperform | C$427.90M | 17.33 | 4.57% | 7.22% | 6.36% | 13.91% | |
73 Outperform | C$1.52B | 25.96 | 2.99% | 8.07% | 22.60% | -48.92% | |
67 Neutral | $5.13B | 20.14 | 3.61% | 6.61% | 13.66% | 426.86% | |
63 Neutral | $6.86B | 18.71 | -1.11% | 7.23% | 4.74% | -22.06% | |
60 Neutral | C$2.84B | ― | -3.89% | 7.65% | -6.43% | -35204.55% |
Primaris Real Estate Investment Trust Corporate Events
Primaris Real Estate Investment Trust announced a successful $200 million unsecured green debenture offering, with the debentures maturing in 2033 and bearing a fixed annual interest rate of 4.835%. The proceeds are intended to fund eligible green projects as per the Trust’s Green Finance Framework, highlighting Primaris’ commitment to sustainable development and potentially enhancing its market positioning in the Canadian retail property landscape.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris Real Estate Investment Trust has launched its inaugural Green Finance Framework, allowing the issuance of green bonds, loans, and other financial instruments to support environmental projects. This initiative aligns with Primaris’ sustainability strategy, focusing on emissions reduction and sustainable management, and has received a positive review from Moody’s Ratings, confirming its adherence to international green finance principles.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris Real Estate Investment Trust has successfully closed a $124.3 million secondary equity offering, selling 8,457,944 trust units at $14.70 each through a syndicate of underwriters led by RBC Capital Markets and TD Securities Inc. The offering involved the sale of units held by a selling unitholder, managed by Cadillac Fairview, and did not generate proceeds for Primaris. This transaction is part of Primaris’ strategic management of its assets, reflecting its robust market positioning and capitalization, which allows it to capitalize on opportunities within the Canadian retail property sector.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris Real Estate Investment Trust has announced the acquisition of Lime Ridge Mall in Hamilton, Ontario, for $416 million, marking a significant step in its growth strategy. This acquisition, which includes a mix of cash and equity, is expected to enhance Primaris’ portfolio quality and financial metrics, with implications for increased sales productivity and trading liquidity, benefiting stakeholders.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris Real Estate Investment Trust has declared a distribution of $0.0717 per unit for June 2025, equating to $0.86 per unit annually, payable on July 15, 2025. This announcement underscores Primaris’ strong financial position and strategic focus on enclosed shopping centres, highlighting its capability to leverage market opportunities and deliver value to its stakeholders.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris Real Estate Investment Trust announced it has gained control over five former Hudson’s Bay Company locations, which were disclaimed due to lack of bids. This transition allows Primaris to repurpose these sites, potentially enhancing property value and stakeholder benefits. The company plans to invest $50 to $60 million in redevelopment, aiming for increased rental income and operational efficiency. The move is expected to relieve Primaris of certain obligations and open opportunities for property intensification, including retail and high-density developments.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris Real Estate Investment Trust announced a distribution of $0.0717 per unit for May 2025, payable on June 16, 2025, to unitholders of record on May 30, 2025. This announcement reflects Primaris’ continued commitment to providing value to its investors, leveraging its strong capitalization and strategic positioning in the Canadian retail property market.
The most recent analyst rating on ($TSE:PMZ.UN) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Primaris Real Estate Investment Trust stock, see the TSE:PMZ.UN Stock Forecast page.
Primaris REIT has declared a distribution of $0.0717 per unit for May 2025, equating to $0.86 annually, payable on June 16, 2025. This announcement reflects Primaris’ strategic positioning and financial health, highlighting its ability to provide consistent returns to unitholders amid the dynamic retail property market in Canada.
Primaris Real Estate Investment Trust announced the successful election of all trustee nominees at its 2025 Annual General Meeting, with high approval ratings for each candidate. Additionally, key resolutions including executive compensation, auditor reappointment, and amendments to the Incentive Unit Plan received overwhelming support, indicating strong stakeholder confidence in the Trust’s governance and strategic direction.
Primaris Real Estate Investment Trust reported strong financial results for Q1 2025, with significant growth in rental revenue and net operating income. The company reaffirmed its 2025 guidance despite the anticipated departure of a major tenant, Hudson’s Bay. Primaris continues to enhance its portfolio by acquiring interests in key shopping centers and disposing of non-core assets. The company maintains a strong financial position with substantial liquidity and unencumbered assets, positioning itself as a credible player in the real estate market.
Primaris Real Estate Investment Trust announced a distribution of $0.0717 per unit for April 2025, equating to $0.86 annually, payable on May 15, 2025. This announcement underscores Primaris’ stable financial operations and commitment to delivering consistent returns to its unitholders, reinforcing its strong position in the Canadian retail property market.
Primaris Real Estate Investment Trust has announced the release date for its financial results for the quarter ended March 31, 2025, which will be available on April 30, 2025, after market close. The company will host a conference call and webcast on May 1, 2025, followed by its Annual General Meeting. These events are significant as they provide insights into the company’s financial health and strategic direction, potentially impacting stakeholders and market positioning.
Primaris REIT announced the sale of St. Albert Centre for $60 million and Sherwood Park Mall for $107 million, as part of its capital recycling strategy. These strategic dispositions are aimed at enhancing the appeal of its shopping center portfolio, with proceeds allocated for future acquisitions and other financial strategies. The company is also preparing for the departure of Hudson’s Bay Company (HBC) as a tenant, which is expected to cease operations by June 30, 2025. Primaris views this as an opportunity for future value creation and has plans for re-tenanting and redevelopment. Additionally, Primaris secured a $100 million financing facility to support its ongoing operations and strategic initiatives.