Declared Dividend • May 18
Dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 29th May 2026 Payment date: 15th June 2026 Dividend yield will be 5.1%, which is lower than the industry average of 6.2%. Announcement • May 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of May, 2026, Payable on June 15, 2026 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of May, 2026 of $0.065 per trust unit, representing $0.78 per trust unit on an annualized basis, payable on June 15, 2026 to Unitholders of record at the close of business on May 29, 2026. Recent Insider Transactions • May 14
President recently bought CA$1.8m worth of stock On the 8th of May, Rael Diamond bought around 118k shares on-market at roughly CA$15.42 per share. This transaction amounted to 9.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Rael has been a buyer over the last 12 months, purchasing a net total of CA$1.9m worth in shares. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. Independent Trustee Thomas Sucharda was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
First quarter 2026 earnings released First quarter 2026 results: Revenue: CA$375.5m (down 4.3% from 1Q 2025). Net loss: CA$87.2m (loss narrowed 9.4% from 1Q 2025). Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Apr 19
Dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 30th April 2026 Payment date: 15th May 2026 Dividend yield will be 4.9%, which is lower than the industry average of 6.2%. Announcement • Apr 17
KingSett Real Estate Growth LP No. 8 managed by KingSett Capital Inc. and Choice Properties Real Estate Investment Trust (TSX:CHP.UN) agreed to acquire First Capital Real Estate Investment Trust (TSX:FCR.UN) for CAD 5.3 billion. KingSett Real Estate Growth LP No. 8 managed by KingSett Capital Inc. and Choice Properties Real Estate Investment Trust (TSX:CHP.UN) agreed to acquire First Capital Real Estate Investment Trust (TSX:FCR.UN) for CAD 5.3 billion on April 16, 2026. The total consideration consists of cash and stock out of which stock consideration is CAD 1.11 billion based on 68.6 million units of Choice Properties, Cash consideration of CAD 4 billion,CAD 22.1 million is paid towards options, CAD 11.6 million is paid towards DSU and CAD 46.39 million is paid towards Restricted unit and Performance units. The remaining consideration is expected to be financed via the issuance of new unsecured debentures by Choice Properties. The transaction was funded by CAD 600 million equity investment. In case of termination of transaction, seller will pay a termination fee of CAD 187.5 million. Following completion of the Transaction, First Capital units are expected to be delisted from the TSX.
The transaction is subject to subject to court approval, approval of offer by target shareholders, approvals/consents of lender/creditors, and regulatory approval and deal was unanimously approved by First Capital Real Estate Investment Trust Board. The Board of Directors of First Capital Real Estate Investment Trust formed a special committee for the transaction. The expected completion of the transaction is in Q4 2026. Post-transaction, Choice's net debt to adjusted EBITDA is expected to be approximately 8.5x. The transaction is expected to be initially dilutive to earnings and become accretive in the second year following its completion.
RBC Capital Markets Inc. acted as financial advisor for First Capital Real Estate Investment Trust. Stikeman Elliott LLP acted as legal advisor for First Capital Real Estate Investment Trust. National Bank of Canada Financial Markets acted as financial advisor for First Capital Real Estate Investment Trust. Desjardins Capital Markets acted as financial advisor for KingSett Capital Inc. Bennett Jones LLP acted as legal advisor for KingSett Capital Inc. TD Securities, Inc. acted as financial advisor for Choice Properties Real Estate Investment Trust. Osler, Hoskin & Harcourt LLP acted as legal advisor for Choice Properties Real Estate Investment Trust. McCarthy Tétrault LLP acted as legal advisor for Choice Properties Real Estate Investment Trust. The First Capital Board of Trustees and the First Capital Special Committee have obtained fairness opinions from RBC Capital Markets and National Bank Capital Markets. Announcement • Apr 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of April, 2026, Payable on May 15, 2026 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of April, 2026 of $0.065 per trust unit, representing $0.78 per trust unit on an annualized basis, payable on May 15, 2026 to Unitholders of record at the close of business on April 30, 2026. Declared Dividend • Mar 19
Dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 31st March 2026 Payment date: 15th April 2026 Dividend yield will be 5.0%, which is lower than the industry average of 6.2%. Announcement • Mar 17
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of March, 2026, Payable on April 15, 2026 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of March, 2026 of $0.065 per trust unit, representing $0.78 per trust unit on an annualized basis, payable on April 15, 2026 to Unitholders of record at the close of business on March 31, 2026. Announcement • Mar 12
Choice Properties Real Estate Investment Trust to Report Q1, 2026 Results on Apr 29, 2026 Choice Properties Real Estate Investment Trust announced that they will report Q1, 2026 results After-Market on Apr 29, 2026 Announcement • Feb 23
Choice Properties Real Estate Investment Trust, Annual General Meeting, Apr 30, 2026 Choice Properties Real Estate Investment Trust, Annual General Meeting, Apr 30, 2026. New Risk • Feb 20
New major risk - Revenue and earnings growth Earnings have declined by 0.05% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 0.05% per year over the past 5 years. Reported Earnings • Feb 20
Full year 2025 earnings released: FFO per share: CA$2.4 (vs CA$2.28 in FY 2024) Full year 2025 results: FFO per share: CA$2.4 (up from CA$2.28 in FY 2024). Revenue: CA$1.51b (up 2.8% from FY 2024). Funds from operations (FFO): CA$773.8m (up 3.6% from FY 2024). FFO margin: 51% (in line with FY 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • Feb 18
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 27th February 2026 Payment date: 16th March 2026 Dividend yield will be 4.9%, which is lower than the industry average of 6.2%. Announcement • Feb 12
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of February, 2026, Payable on March 16, 2026 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of February, 2026 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on March 16, 2026 to Unitholders of record at the close of business on February 27, 2026. Declared Dividend • Jan 19
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 30th January 2026 Payment date: 17th February 2026 Dividend yield will be 4.9%, which is lower than the industry average of 6.2%. Announcement • Jan 15
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of January 2026, Payable on February 17, 2026 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of January, 2026 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on February 17, 2026 to Unitholders of record at the close of business on January 30, 2026. Declared Dividend • Dec 19
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 5.2%, which is lower than the industry average of 6.2%. Announcement • Dec 17
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of December 2025, Payable on January 15, 2026 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of December, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on January 15, 2026 to Unitholders of record at the close of business on December 31, 2025. Announcement • Dec 11
Choice Properties Real Estate Investment Trust to Report Q4, 2025 Results on Feb 18, 2026 Choice Properties Real Estate Investment Trust announced that they will report Q4, 2025 results After-Market on Feb 18, 2026 Buy Or Sell Opportunity • Dec 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.3% to CA$14.59. The fair value is estimated to be CA$18.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Meanwhile, the company has become profitable. Declared Dividend • Nov 19
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 28th November 2025 Payment date: 15th December 2025 Dividend yield will be 5.1%, which is lower than the industry average of 6.2%. Announcement • Nov 14
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of November, 2025, Payable on December 15, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of November, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on December 15, 2025 to Unitholders of record at the close of business on November 28, 2025. Buy Or Sell Opportunity • Nov 07
Now 20% undervalued Over the last 90 days, the stock has risen 3.9% to CA$14.77. The fair value is estimated to be CA$18.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: CA$0.74 (vs CA$2.02 loss in 3Q 2024) Third quarter 2025 results: EPS: CA$0.74 (up from CA$2.02 loss in 3Q 2024). Revenue: CA$379.9m (up 3.1% from 3Q 2024). Net income: CA$242.6m (up CA$905.6m from 3Q 2024). Profit margin: 64% (up from net loss in 3Q 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • Oct 20
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 31st October 2025 Payment date: 17th November 2025 Dividend yield will be 5.2%, which is lower than the industry average of 6.2%. Announcement • Oct 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of October, 2025, Payable on November 17, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of October, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on November 17, 2025 to Unitholders of record at the close of business on October 31, 2025. Buy Or Sell Opportunity • Oct 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to CA$14.34. The fair value is estimated to be CA$17.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 24
Choice Properties Real Estate Investment Trust to Report Q3, 2025 Results on Nov 05, 2025 Choice Properties Real Estate Investment Trust announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Declared Dividend • Sep 17
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 5.1%, which is lower than the industry average of 6.2%. Announcement • Sep 15
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of September, 2025, Payable on October 15, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of September, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on October 15, 2025 to Unitholders of record at the close of business on September 30, 2025. Buy Or Sell Opportunity • Aug 21
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at CA$14.62. The fair value is estimated to be CA$18.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Aug 17
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 5.3%, which is lower than the industry average of 6.2%. Announcement • Aug 14
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of August, 2025, Payable on September 15, 2025 Choice Properties Real Estate Investment Trust have declared a cash distribution for the month of August, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on September 15, 2025 to Unitholders of record at the close of business on August 29, 2025. Announcement • Aug 08
Choice Properties Real Estate Investment Trust announced that it has received CAD 500 million in funding On August 8, 2025, Choice Properties Real Estate Investment Trust closed the transaction. Announcement • Aug 07
Choice Properties Real Estate Investment Trust announced that it expects to receive CAD 500 million in funding Choice Properties Real Estate Investment Trust announced a private placement of series W senior unsecured non-convertible debentures for principal amount of CAD 350,000,000 and series X senior unsecured non-convertible debentures for principal amount of CAD 150,000,000, for the aggregate gross proceeds of CAD 500,000,000 on August 6, 2025. The series W senior unsecured debentures will bear an interest rate of 4.628% per annum and will mature on August 8, 2035; and series X senior unsecured debentures will bear an interest rate of 5.369% per annum and will mature on August 8, 2055. The transaction is subject to customary closing conditions and is expected to close on August 8, 2025. The debentures will be sold at par. The debentures will rank equally with all other unsecured indebtedness of the trust that has not been subordinated.
It is a condition of closing of the Offering that the Debentures be rated at least “BBB” (high) with a “positive” trend by Morningstar DBRS and at least “BBB+” by Standard and Poor’s Ratings Services. The Debentures will rank equally with all other unsecured indebtedness of the Trust that has not been subordinated. Declared Dividend • Jul 18
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 31st July 2025 Payment date: 15th August 2025 Dividend yield will be 5.2%, which is lower than the industry average of 6.2%. Declared Dividend • Jun 19
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 5.2%, which is lower than the industry average of 6.2%. Announcement • Jun 18
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of June 2025, Payable on July 15, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of June, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on July 15, 2025 to Unitholders of record at the close of business on June 30, 2025. Announcement • Jun 05
Choice Properties Real Estate Investment Trust to Report Q2, 2025 Results on Jul 17, 2025 Choice Properties Real Estate Investment Trust announced that they will report Q2, 2025 results After-Market on Jul 17, 2025 Declared Dividend • May 19
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 30th May 2025 Payment date: 16th June 2025 Dividend yield will be 5.1%, which is lower than the industry average of 6.2%. Announcement • May 15
Choice Properties Real Estate Investment Trust Declares Monthly Distribution, Payable on June 16, 2025 Choice Properties Real Estate Investment Trust declared a cash distribution for the month of May, 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on June 16, 2025 to Unitholders of record at the close of business on May 30, 2025. Reported Earnings • Apr 24
First quarter 2025 earnings released: FFO per share: CA$0.6 (vs CA$0.57 in 1Q 2024) First quarter 2025 results: FFO per share: CA$0.6 (up from CA$0.57 in 1Q 2024). Revenue: CA$366.4m (flat on 1Q 2024). Funds from operations (FFO): CA$190.9m (up 2.0% from 1Q 2024). FFO margin: 52% (in line with 1Q 2024). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 17
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 30th April 2025 Payment date: 15th May 2025 Dividend yield will be 5.2%, which is lower than the industry average of 6.2%. Announcement • Apr 15
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of April, 2025, Payable on May 15, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of April, 2025, of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on May 15, 2025, to Unitholders of record at the close of business on April 30, 2025. Buy Or Sell Opportunity • Apr 07
Now 21% undervalued Over the last 90 days, the stock has risen 4.7% to CA$13.96. The fair value is estimated to be CA$17.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years, while earnings per share has been flat. Declared Dividend • Mar 20
Dividend of CA$0.064 announced Shareholders will receive a dividend of CA$0.064. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 5.4%, which is lower than the industry average of 6.2%. Announcement • Mar 19
Choice Properties Real Estate Investment Trust to Report Q1, 2025 Results on Apr 23, 2025 Choice Properties Real Estate Investment Trust announced that they will report Q1, 2025 results After-Market on Apr 23, 2025 Announcement • Mar 18
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of March 2025, Payable on April 15, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of March 2025 of $0.064167 per trust unit, representing $0.77 per trust unit on an annualized basis, payable on April 15, 2025, to Unitholders of record at the close of business on March 31, 2025. Recent Insider Transactions • Feb 27
President recently bought CA$1.7m worth of stock On the 24th of February, Rael Diamond bought around 124k shares on-market at roughly CA$13.64 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Rael's only on-market trade for the last 12 months. Declared Dividend • Feb 19
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 28th February 2025 Payment date: 17th March 2025 Dividend yield will be 5.6%, which is lower than the industry average of 6.2%. Announcement • Feb 17
Choice Properties Real Estate Investment Trust, Annual General Meeting, Apr 24, 2025 Choice Properties Real Estate Investment Trust, Annual General Meeting, Apr 24, 2025. Reported Earnings • Feb 13
Full year 2024 earnings released Full year 2024 results: Revenue: CA$1.45b (up 1.2% from FY 2023). Net income: CA$784.4m (down 1.5% from FY 2023). Profit margin: 54% (down from 56% in FY 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Declared Dividend • Jan 19
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 31st January 2025 Payment date: 18th February 2025 Dividend yield will be 5.8%, which is lower than the industry average of 6.2%. Announcement • Jan 17
Choice Properties Real Estate Investment Trust announced that it has received CAD 300 million in funding On January 16, 2025, Choice Properties Real Estate Investment Trust closed the transaction. Announcement • Jan 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of January, 2025, Payable on February 18, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of January, 2025 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on February 18, 2025 to Unitholders of record at the close of business on January 31, 2025. Announcement • Jan 14
Choice Properties Real Estate Investment Trust announced that it expects to receive CAD 300 million in funding Choice Properties Real Estate Investment Trust announced a private placement of series V senior unsecured debentures for the gross proceeds of CAD 300 million on January 13, 2025. The series V senior unsecured debentures bears an interest rate of 4.293% per annum. The series V senior unsecured debentures will mature on January 16, 2030. The transaction is expected to close on January 16, 2025. The Debentures will be sold at par. Declared Dividend • Dec 19
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 5.8%, which is lower than the industry average of 6.2%. Announcement • Dec 19
Choice Properties Real Estate Investment Trust to Report Q4, 2024 Results on Feb 12, 2025 Choice Properties Real Estate Investment Trust announced that they will report Q4, 2024 results After-Market on Feb 12, 2025 Announcement • Dec 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of December, 2024, Payable on January 15, 2025 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of December, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on January 15, 2025 to Unitholders of record at the close of business on December 31, 2024. Declared Dividend • Nov 17
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 29th November 2024 Payment date: 16th December 2024 Dividend yield will be 5.5%, which is lower than the industry average of 6.2%. Announcement • Nov 15
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of November, 2024, Payable on December 16, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of November, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on December 16, 2024 to Unitholders of record at the close of business on November 29, 2024. Reported Earnings • Nov 07
Third quarter 2024 earnings released: CA$2.02 loss per share (vs CA$1.33 profit in 3Q 2023) Third quarter 2024 results: CA$2.02 loss per share (down from CA$1.33 profit in 3Q 2023). Revenue: CA$363.9m (up 4.7% from 3Q 2023). Net loss: CA$663.0m (down 252% from profit in 3Q 2023). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Announcement • Nov 07
Choice Properties Real Estate Investment Trust Announces Chief Financial Officer Changes, Effective March 1, 2025 Choice Properties Real Estate Investment Trust announced the upcoming retirement of Chief Financial Officer, Mario Barrafato, effective March 1, 2025. He will be succeeded by Erin Johnston, who is currently Senior Vice President, Finance at the Trust. Declared Dividend • Oct 20
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 5.2%, which is lower than the industry average of 6.2%. Announcement • Oct 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of October, 2024, Payable on November 15, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of October, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on November 15, 2024 to Unitholders of record at the close of business on October 31, 2024. Announcement • Sep 24
Choice Properties Real Estate Investment Trust to Report Q3, 2024 Results on Nov 06, 2024 Choice Properties Real Estate Investment Trust announced that they will report Q3, 2024 results on Nov 06, 2024 Declared Dividend • Sep 19
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 5.0%, which is lower than the industry average of 6.2%. Announcement • Sep 17
9336-2390 Québec inc. acquired Mega Centre Lebourgneuf from Choice Properties Real Estate Investment Trust (TSX:CHP.UN) and Ontario Teachers' Pension Plan Board for $66.5 million. 9336-2390 Québec inc. acquired Mega Centre Lebourgneuf from Choice Properties Real Estate Investment Trust (TSX:CHP.UN) and Ontario Teachers' Pension Plan Board for $66.5 million on September 16, 2024.
9336-2390 Québec inc. completed the acquisition of Mega Centre Lebourgneuf from Choice Properties Real Estate Investment Trust (TSX:CHP.UN) and Ontario Teachers' Pension Plan Board on September 16, 2024. Announcement • Sep 16
Choice Properties Real Estate Investment Trust Announces Cash Distribution for the Month of September 2024, Payable on October 15, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of September, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on October 15, 2024 to Unitholders of record at the close of business on September 30, 2024. Declared Dividend • Aug 18
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 5.3%, which is lower than the industry average of 6.2%. Announcement • Aug 15
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of August, 2024, Payable on September 16, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of August, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on September 16, 2024 to Unitholders of record at the close of business on August 30, 2024. New Risk • Jul 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$1.1m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (45% net profit margin). Significant insider selling over the past 3 months (CA$1.1m sold). Reported Earnings • Jul 19
Second quarter 2024 earnings released: FFO per share: CA$0.6 (vs CA$0.56 in 2Q 2023) Second quarter 2024 results: FFO per share: CA$0.6 (up from CA$0.56 in 2Q 2023). Revenue: CA$358.0m (up 12% from 2Q 2023). Funds from operations (FFO): CA$184.7m (flat on 2Q 2023). FFO margin: 52% (down from 58% in 2Q 2023). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 18
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 5.5%, which is lower than the industry average of 6.2%. Announcement • Jul 16
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of July, 2024, Payable on August 15, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of July, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on August 15, 2024 to Unitholders of record at the close of business on July 31, 2024. Declared Dividend • Jun 17
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 5.9%, which is about the same as the industry average. Announcement • Jun 15
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of June, 2024, Payable on July 15, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of June, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on July 15, 2024 to Unitholders of record at the close of business on June 28, 2024. Announcement • May 24
Choice Properties Real Estate Investment Trust announced that it has received CAD 499.999999 million in funding On May 23, 2024, Choice Properties Real Estate Investment Trust closed the transaction. Announcement • May 23
Choice Properties Real Estate Investment Trust announced that it expects to receive CAD 499.98 million in funding Choice Properties Real Estate Investment Trust announced a private placement of 5,000,000 series U senior unsecured non-convertible debentures at an issue price of $99.996 for gross proceeds of CAD 499,980,000 and CAD 500,000,000 on May 21, 2024. The debentures will bear an interest rate of 5.030% per annum and will mature on February 28, 2031. The transaction is subject to customary closing conditions and is expected to close on May 23, 2024. The debenture is issued at discount. The debenture will have yield of 5.032% per annum.
It is a condition of closing of the transaction that the debentures be rated at least “BBB” (high) with a “stable” trend by DBRS Limited and at least “BBB” by Standard and Poor’s Ratings Services. The debentures will rank equally with all other unsecured indebtedness of the Trust that has not been subordinated. Declared Dividend • May 19
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 31st May 2024 Payment date: 17th June 2024 Dividend yield will be 5.7%, which is lower than the industry average of 6.2%. Announcement • May 18
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of May 2024, Payable on June 17, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of May, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on June 17, 2024 to Unitholders of record at the close of business on May 31, 2024. Announcement • Apr 26
An undisclosed buyer acquired Industrial property and a retail property from Choice Properties Real Estate Investment Trust (TSX:CHP.UN) for CAD 23.3 million. An undisclosed buyer acquired Industrial property and a retail property from Choice Properties Real Estate Investment Trust (TSX:CHP.UN) for CAD 23.3 million on March 31, 2024.An undisclosed buyer completed the acquisition of Industrial property and a retail property from Choice Properties Real Estate Investment Trust (TSX:CHP.UN) for CAD 23.3 million on March 31, 2024. Upcoming Dividend • Apr 25
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 15 May 2024. Trailing yield: 5.8%. Lower than top quartile of Canadian dividend payers (6.6%). Lower than average of industry peers (6.7%). Declared Dividend • Apr 18
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 29th April 2024 Payment date: 15th May 2024 Dividend yield will be 5.8%, which is lower than the industry average of 6.2%. Announcement • Apr 17
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of April 2024, Payable on May 15, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of the company have declared a cash distribution for the month of April 2024 of $0.063333 per trust unit, representing $0.75 per trust unit on an annualized basis, payable on May 15, 2024 to Unitholders of record at the close of business on April 30, 2024. Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. Trailing yield: 5.4%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (6.4%). Declared Dividend • Mar 15
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 5.5%, which is lower than the industry average of 6.2%. Announcement • Mar 15
Choice Properties Real Estate Investment Trust to Report Q1, 2024 Results on Apr 24, 2024 Choice Properties Real Estate Investment Trust announced that they will report Q1, 2024 results After-Market on Apr 24, 2024 Announcement • Mar 13
Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of March, 2024, Payable on April 15, 2024 Choice Properties Real Estate Investment Trust announced that the trustees of Choice Properties have declared a cash distribution for the month of March, 2024 of $0.063333 per trust unit, representing $0.75 per trust unit on an annualized basis, payable on April 15, 2024 to Unitholders of record at the close of business on March 28, 2024. Recent Insider Transactions • Mar 04
President recently bought CA$1.7m worth of stock On the 27th of February, Rael Diamond bought around 124k shares on-market at roughly CA$13.66 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Rael has been a buyer over the last 12 months, purchasing a net total of CA$1.8m worth in shares. Upcoming Dividend • Feb 21
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 15 March 2024. Trailing yield: 5.5%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (6.3%). Declared Dividend • Feb 16
Dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 28th February 2024 Payment date: 15th March 2024 Dividend yield will be 5.5%, which is lower than the industry average of 6.2%. 
