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Home CompaniesPrimaris Retail R.E. Invest. Tr. Units

Primaris Retail R.E. Invest. Tr. Units

Real Estate REIT - Retail
PortfolioPortfolio WatchlistWatchlist
Company price
23.49 CAD 0.69 ( 3.03%)
Last update at 2026-11-04T20:34:00Z
VOLUME
471000
Market Cap
1297.52M
P/E
17.42

Momentum Score

…

Primaris is Canada's only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing markets. The current portfolio totals 11.5 million square feet valued at approximately $3.4 billion at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
22.76
Low
23.56
High
52 Week Price Range
11.68
Low
15.04
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Primaris Retail REIT (PMZ.UN) is a Canadian REIT owning community and regional shopping centres anchored by necessity and service tenants. Long-term drivers include demand for essential retail plus asset repositioning and redevelopment that could support rental growth and recurring cash flow, which may appeal to investors seeking steadier income from retail property exposure.
Key risks are secular retail disruption, tenant-credit and vacancy exposure, and sensitivity to interest rates, valuations and leverage; investors should monitor leasing and balance-sheet metrics.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
22.80
Dividend Yield
6.20%
Revenue TTM
396.96M
Revenue Per Share
3.95
Gross Profit TTM
211.79M
Debt / Equity
-
ROE
2.95%
Net Debt
996.56M
ROCE
6.80%
Diluted EPS TTM
0.78

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax -12.08M 340.99M -574.48M - -
Minority interest 12.08M 13.58M 0.00M - -
Net income 0.00M 354.57M -574.48M - -
Selling general administrative 27.83M 13.53M 9.91M - -
Gross profit 211.79M 141.59M 128.47M - -
Reconciled depreciation 1.86M - - - -
Ebit 182.82M 128.06M 118.57M 151.16M 152.36M
Ebitda 21.83M 359.72M -553.40M - -
Operating income 182.82M 128.06M 118.57M - -
Interest expense 32.05M 18.73M 21.08M 0.00M 0.00M
Interest income 0.32M 0.02M 0.08M - -
Net interest income -33.08M -18.36M -18.81M - -
Total revenue 380.06M 253.98M 270.23M - -
Total operating expenses 197.25M 125.92M 151.66M - -
Cost of revenue 168.28M 112.39M 141.76M - -
Total other income expense net -161.82M 231.29M -674.24M - -
Net income from continuing ops -12.08M 340.99M -574.48M - -
Net income applicable to common shares -12.08M 340.99M -574.48M -44.45M -147.69M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 3201.78M 3247.84M 2134.95M - -
Other current assets 10.57M 7.58M 5.48M 9.05M 5.73M
Total liab 1114.15M 1056.52M 1133.26M - -
Total stockholder equity 2087.63M 2191.33M 1001.70M - -
Other current liab - - 475.31M 282.39M 137.62M
Common stock 2087.63M 2207.88M 1001.70M 1575.90M 1619.76M
Retained earnings - -13.58M - - -
Other liab 27.20M 64.50M 29.15M 42.59M 42.40M
Other assets - 15.21M - - -
Cash 10.95M 5.64M 15.01M - -
Total current liabilities 512.02M 768.21M 802.70M 482.61M 417.65M
Net debt 996.56M 552.78M 286.39M - -
Short long term debt 450.13M 143.00M 308.50M - -
Other stockholder equity - -2.97M - - -
Property plant equipment 3128.99M 3212.25M 2103.68M 2708.26M 2704.60M
Total current assets 72.79M 35.59M 31.28M 24.45M 20.83M
Net tangible assets 2087.63M 2191.33M 1001.70M 1575.90M 1619.76M
Net receivables 51.26M 22.38M 10.79M 7.40M 7.07M
Long term debt 557.38M 415.42M 301.40M - -
Accounts payable 49.55M 56.88M 16.99M 25.52M 21.88M
Non current assets total 3118.59M 3204.19M 2103.68M - -
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -112.61M -46.09M -79.90M - -
Change to liabilities 0.00M 0.00M 0.00M 147.75M -251.05M
Total cashflows from investing activities -112.61M -46.09M -79.90M -159.14M -70.24M
Net borrowings 84.29M 112.89M -192.22M -94.72M 214.51M
Total cash from financing activities -46.38M 112.45M -191.95M -94.12M 215.11M
Change to operating activities 9.38M -176.51M 187.34M -3.31M 1.08M
Net income -12.08M 340.99M -574.48M -44.45M -147.69M
Change in cash 5.32M -9.37M 7.00M -0.02M 4.55M
Begin period cash flow 5.64M 15.01M 8.01M - -
End period cash flow 10.95M 5.64M 15.01M 8.01M -
Total cash from operating activities 164.31M -75.73M 278.85M 253.25M -140.32M
Depreciation 1.86M - - - -
Other cashflows from investing activities -40.84M -40.84M -40.84M -40.84M -
Dividends paid 73.44M 0.27M 0.27M 0.27M -
Change to account receivables - - - -0.44M -1.42M
Sale purchase of stock -54.13M - - - -
Other cashflows from financing activities -3.10M -0.16M 0.28M 0.60M 0.60M
Change to netincome 167.00M -240.21M 665.98M 153.70M 258.76M
Capital expenditures 0.00M 24.87M 65.22M 0.00M 0.00M
Change in working capital 9.38M -176.68M 187.34M - -
Stock based compensation 2.74M - - - -
Other non cash items 28.95M 15.75M 16.86M - -
Free cash flow 164.31M -76.17M 278.85M - -

Peer Comparison*

Sector: Real Estate Industry: REIT - Retail

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
PMZ-UN
Primaris Retail R.E. Invest. Tr. Units		 0.69
3.03%		 23.49 17.42 - 3.27 0.62 6.34 22.31
CHP-UN
Choice Properties Real Estate Investment Trust		 0.29
1.97%		 15.24 15.24 13.72 7.35 0.95 8.73 9.26
REI-UN
RioCan Real Estate Investment Trust		 0.40
1.89%		 21.61 37.32 10.32 4.73 0.73 11.02 36.83
SRU-UN
SmartCentres Real Estate Investment Trust		 0.39
1.43%		 27.67 8.62 12.05 4.47 0.79 11.07 12.00
CRT-UN
CT Real Estate Investment Trust		 0.39
2.21%		 18.00 14.82 10.80 6.24 2.00 8.99 13.02

Profile*

Primaris Retail R.E. Invest. Tr. Units

Primaris is Canada's only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing markets. The current portfolio totals 11.5 million square feet valued at approximately $3.4 billion at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

26 Wellington Street East, Toronto, ON, Canada, M5E 1S2

416 642 7800

https://www.primarisreit.com

Name Title Year Born
Mr. Alexander Danial Avery CEO & Trustee 1978
Mr. Patrick James Sullivan Pres, COO & Trustee 1970
Mr. Raghunath Davloor C.A. Chief Financial Officer 1962
Mr. Mordecai Bobrowsky SVP of Legal & Sec. NA
Graham Thomas Procter Sr. VP of Asset Management NA
Ms. Brenda Huggins Sr. VP of HR NA
Ms. Leslie Buist Sr. VP of Fin. NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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