Overview

* CT REIT Q2 property revenue rises 3.7% yr/yr, driven by acquisitions and rent escalations

* Net operating income increases 3.4%, reflecting new investments and lease renewals

* Co announces two new investments totaling 252,000 sq ft, expected to yield 7.55%

Outlook

* CT REIT plans C$66 mln investment in new projects

* Company expects 7.55% yield from new investments

Result Drivers

* RENT ESCALATIONS - Rent escalations from Canadian Tire leases contributed C$1.7 mln to NOI growth

* NEW INVESTMENTS - Acquisitions and developments added C$3.1 mln to NOI

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$149.78

Property mln

Revenue

Q2 Net C$103

Income mln

Q2 C$76.07

Adjusted mln

FFO

Q2 FFO C$81.24

mln

Q2 C$118.91

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy."

* Wall Street's median 12-month price target for CT Real Estate Investment Trust is C$16.00, about 3.8% above its August 1 closing price of C$15.39

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)