TNT-UN — True North Commercial Real Estate Investment Trust

TNT-UNTrue North Commercial Real Estate Investment Trust

TSX · CA · Real Estate · REIT - Office · truenorthreit.com

8.330CAD-0.60%Mkt Cap: 120.00M CADP/E: —Last update: 2026-06-01

True North Commercial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust. The REIT currently owns and operates a portfolio of 37 commercial properties consisting of approximately 4…

Industry Peers

REIT - Office

MERLIN Properties SOCIMI, S.A.

9.18BEURP/E 10.8

MRL

MERLIN Properties SOCIMI, S.A.

9.16BEURP/E 10.8

ARE

Alexandria Real Estate Equities, Inc.

Hudson Pacific Properties, Inc.

Cousins Properties Incorporated

4.34BUSD—

Indicators:|

Key Statistics

Company

Market Cap120.00M CAD

Enterprise Value847.89M CAD

Revenue (TTM)128.86M CAD

Gross Profit69.08M CAD

Net Income (TTM)-32.57M CAD

Revenue/Share9.161 CAD

Last Price8.330 CAD

Fiscal Year EndDec 2025

MR QuarterMar 2026

Employees—

CountryCA

SectorReal Estate

IndustryREIT - Office

ISIN—

Valuation

P/E (Trailing)—

P/E (Forward)—

PEG—

EV/EBITDA—

EV/Revenue6.58

P/S0.94

P/B0.32

EPS (TTM)-2.32

EPS (Forward)—

52W Range

7.99020% of range9.700

52W High9.700 CAD

52W Low7.990 CAD

Profitability

Gross Margin53.09%

Oper. Margin41.08%

EBITDA Margin0.00%

Profit Margin-25.03%

ROE-8.68%

ROA-2.79%

Growth

Revenue Growth-4.00%

Earnings Growth-5.20%

Cash Flow & Leverage

Operating CF71.22M CAD

CapEx (TTM)—

FCF Margin23.05%

FCF Yield24.75%

Net Debt730.02M CAD

Net Debt/EBITDA—

Balance Sheet

Debt/Equity1.95

Current Ratio0.18

Quick Ratio0.03

Book Value/Sh26.54 CAD

Cash/Share0.5780 CAD

Dividends

Fwd Div Rate0.6900 CAD

Trail. Div Rate0.6900 CAD

Div. Yield8.23%

5Y Avg Yield11.38%

Payout Ratio0.00%

Ex-Div DateMay 29, 2026

Pay DateJun 15, 2026

Splits

Last Split173:1000

Split DateNov 24, 2023

Analyst Consensus

Rating—

Target (Mean)9.500 CAD

Target Range9.000 CAD – 10.00 CAD

# Analysts2

Ownership

Shares Out.14.07M

Float12.36M

Insiders12.17%

Institutions1.81%

Short Interest

Short Ratio0.7d

Short % Out.0.07%

Shares Short2.81K

Short (prev mo.)28.98K

Technical

SMA 508.250 (+1.0%)

SMA 2008.791 (-5.2%)

Beta1.05

S&P 52W Chg27.70%

Avg Vol (30d)16.74K

Avg Vol (10d)23.66K

Technical Indicators

RSI (14)55.4

MACD0.0203

MACD Signal0.0023

MACD Hist.+0.0181

BB Upper8.444 CAD

BB Middle8.290 CAD

BB Lower8.136 CAD

BB Width3.72%

ATR (14)0.1154 CAD

Vol Ratio (20d)0.59x