The call reflected a strategic emphasis on expanding the industrial property segment, achieving consistent same-property NOI growth, and maintaining financial stability through debt reduction. However, challenges such as decreased occupancy rates, flat financial metrics, and a difficult transaction market were significant concerns.

Company Guidance

During the Q3 2024 earnings call for PROREIT, management provided extensive guidance and performance metrics. The company reported a strategic focus on becoming a pure-play industrial REIT, having increased their industrial segment to 85.6% of their gross leasable area (GLA) from 81.3% a year ago. They achieved an 8.1% increase in same-property net operating income (NOI) and maintained a robust portfolio occupancy rate of 97.2%, despite a slight decrease from 98.2% the previous year. PROREIT completed the sale of two office properties and acquired an industrial property near Montreal International Airport, resulting in a total of 116 properties in their portfolio, down from 126 last year. Financial results showed property revenue at $24.0 million and funds from operations (FFO) at $6.5 million for the quarter. The company maintained a debt-to-gross book value ratio of approximately 50%, with a weighted average interest rate on mortgage debt at 3.87%. They also reported a basic adjusted funds from operations (AFFO) payout ratio of 97.7%. Looking forward, PROREIT aims to achieve 90% industrial base rent and continues to explore capital recycling opportunities to maintain their financial health and strategic growth.

Strategic Shift to Industrial Properties

Continued progress towards becoming a pure-play industrial REIT with industrial segment accounting for 85.6% of GLA, up from 81.3% last year.

Same-Property NOI Growth

Achieved an 8.1% increase in same-property NOI for the third quarter, marking 15 consecutive quarters of growth with an average annual rate over 3%.

Successful Lease Renewals

Renewed or replaced 83.6% of GLA maturing in 2024 with a robust 50.4% positive spread for industrial properties.

Financial Prudence

Reduced total debt by $18 million compared to last year, maintaining a debt to gross book value target of approximately 50%.

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PRO Real Estate Investment (TSE:PRV.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:PRV.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 15, 2018	2018 (Q2)	- / 0.05	0.048	-4.17% (>-0.01)	―	―
Nov 14, 2018	2018 (Q3)	- / 0.31	0.112	179.46% (+0.20)	―	―
Mar 27, 2019	2018 (Q4)	- / 0.21	0.242	-14.88% (-0.04)	―	―
May 13, 2019	2019 (Q1)	- / -0.01	0.055	-118.18% (-0.07)	―	―
Aug 13, 2019	2019 (Q2)	- / 0.23	0.046	389.13% (+0.18)	―	―
Nov 13, 2019	2019 (Q3)	- / 0.17	0.313	-44.41% (-0.14)	―	―
Mar 25, 2020	2019 (Q4)	- / 0.03	0.206	-83.98% (-0.17)	―	―
May 13, 2020	2020 (Q1)	- / 0.45	-0.01	4640.00% (+0.46)	―	―
Aug 12, 2020	2020 (Q2)	- / -0.07	0.225	-130.67% (-0.29)	―	―
Nov 10, 2020	2020 (Q3)	- / -0.02	0.174	-110.34% (-0.19)	―	―

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:PRV.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2024	C$5.58	C$5.60	+0.36%
Aug 07, 2024	C$4.80	C$4.91	+2.29%
May 08, 2024	C$4.80	C$4.96	+3.33%
Mar 20, 2024	C$4.98	C$4.87	-2.21%

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.

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FAQ

When does PRO Real Estate Investment (TSE:PRV.UN) report earnings?

PRO Real Estate Investment (TSE:PRV.UN) is schdueled to report earning on Mar 19, 2025, TBA Not Confirmed.

What is PRO Real Estate Investment (TSE:PRV.UN) earnings time?

PRO Real Estate Investment (TSE:PRV.UN) earnings time is at Mar 19, 2025, TBA Not Confirmed.

Where can I see when companies are reporting earnings?

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What is TSE:PRV.UN EPS forecast?

Currently, no data Available

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