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Owns retail properties leased mainly to Canadian Tire and its affiliated banners.
Owns retail properties leased mainly to Canadian Tire and its affiliated banners.
Gets rent from Canadian Tire stores and distribution centres under long leases with Canadian Tire, its controlling shareholder, which supplies most of the income. Canadian Tire holds a majority of the units and also acts as its main tenant, so the trust's results depend closely on one retailer.
Moat: narrow (switching costs, scale). Long-term leases with its controlling shareholder, Canadian Tire, provide highly stable rental income.
Headquarters: Toronto, Canada · Founded: 2013 · Employees: 67
Size CT Real Estate Investment Trust (CRT-UN.TO) is a Canada Real Estate company (Real Estate Investment Trusts) with a market value of $3.11B, the 154th largest of 420 Canada companies the cockpit tracks. Shares closed at C$18.10 on 6 Nov 2026.
Performance Over six months the shares gained 3.1%, against -4.7% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 4.8% over the last twelve months (peer median +6.6%); the operating margin is 74.9% (peer median 49.0%).
Valuation It trades at 0.68× book value against a peer median of 1.00× (5th cheapest of 21).
Price implies The share price implies a return on equity of about 6.2%; CT Real Estate Investment Trust delivers 12.9%, so the price asks less than the business earns today.
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$618M | C$604M | C$579M | C$553M | C$533M |
| Revenue growth | — | +4% | +5% | +4% | — |
| Gross profit | C$482M | C$472M | C$453M | C$437M | C$422M |
| EBITDA | C$463M | C$453M | C$437M | C$422M | C$407M |
| Net income | C$254M | C$238M | C$200M | C$105M | C$148M |
| Free cash flow | C$400M | C$391M | C$376M | C$372M | C$355M |
| Capital expenditure | C$3.94M | C$0 | C$0 | C$0 | C$0 |
| Total debt | C$3.22B | C$3.20B | C$3.08B | C$2.98B | C$2.89B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| CT Real Estate Investment Trust CRT-UN.TO | $3.11B | +3% | +5% | 13% | 0.68× | 6.2% |
| RioCan Real Estate Investment Trust REI-UN.TO | $4.41B | -3% | -13% | 7% | 0.86× | 7.7% |
| SmartCentres Real Estate Investment Trust SRU-UN.TO | $3.37B | -3% | -1% | 3% | 0.93× | 7.4% |
| Choice Properties Real Estate Investment Trust CHP-UN.TO | $7.95B | -1% | +4% | -2% | 2.66× | 14.7% |
| Crombie Real Estate Investment Trust CRR-UN.TO | $2.22B | -3% | +4% | -3% | 1.70× | 11.5% |
| First Capital Real Estate Investment Trust FCR-UN.TO | $3.55B | 0% | +3% | 24% | 1.01× | 8.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CRT-UN.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.4% | +3.2% | 7th highest of 21 |
| 6-month return | +3.1% | -4.7% | 8th highest of 21 |
| Return on equity | 12.9% | 7.5% | highest of 21 |
| Price / book | 0.68× | 1.00× | 5th cheapest of 21 |
| Trailing P/E | 10.3× | 17.2× | 3rd cheapest of 19 |
| ROE the price implies | 6.2% | 7.1% | 9th least demanding of 21 |
| ROE delivered | 12.9% | 7.6% | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| CT Real Estate Investment Trust CRT-UN.TO | Canada | $3.11B | +3% | +5% | 13% | 0.68× | 6.2% | 12.9% |
| Japan Hotel Reit Investment 8985.T | Japan | $3.14B | +7% | +15% | 8% | 1.44× | 6.8% | 8.5% |
| Daiwa House REIT Investment 8984.T | Japan | $3.15B | -13% | -9% | 5% | 1.01× | 4.4% | 4.9% |
| ORIX JREIT 8954.T | Japan | $3.06B | -12% | +35% | 8% | 1.36× | 5.4% | 8.3% |
| Park Hotels & Resorts PK | United States | $3.17B | +39% | -1% | -5% | 1.03× | 12.1% | -5.0% |
| Suntec Real Estate Investment Trust T82U.SI | Singapore | $3.18B | -7% | +1% | 5% | 0.67× | 4.3% | 5.2% |
| United Urban Investment 8960.T | Japan | $3.04B | -15% | -2% | 7% | 1.25× | 4.9% | 7.2% |
| Keppel REIT K71U.SI | Singapore | $3.27B | -5% | +5% | 8% | 0.67× | 4.6% | 8.5% |
| Invincible Investment 8963.T | Japan | $2.94B | -1% | +10% | 9% | 1.31× | 6.2% | 8.9% |
| DiamondRock Hospitality DRH | United States | $2.88B | +30% | +2% | 11% | 1.86× | 16.4% | 10.6% |
| Broadstone Net Lease BNL | United States | $3.36B | -12% | +8% | 5% | 1.17× | 10.7% | 5.0% |
| SmartCentres Real Estate Investment Trust SRU-UN.TO | Canada | $3.37B | -3% | -1% | 3% | 0.93× | 7.4% | 3.1% |
| Derwent London DLN.L | United Kingdom | $2.87B | +15% | +45% | 1% | 0.62× | 10.0% | 1.4% |
| Primary Health Properties PHP.L | United Kingdom | $3.41B | +6% | +104% | 8% | 0.99× | 10.9% | 8.0% |
| Frasers Centrepoint Trust J69U.SI | Singapore | $3.43B | -5% | +16% | 8% | 0.92× | 3.4% | 7.9% |
| Canadian Apartment Properties Real Estate Investment Trust CAR-UN.TO | Canada | $3.45B | -14% | -7% | -2% | 0.58× | 6.0% | -1.5% |
| Hammerson HMSO.L | United Kingdom | $2.80B | +13% | +92% | 11% | 0.90× | 18.4% | 10.6% |
| KDX Realty Investment 8972.T | Japan | $3.47B | -16% | +3% | 5% | 0.87× | 4.9% | 5.4% |
| Highwoods Properties HIW | United States | $3.47B | +24% | +6% | 8% | 1.48× | 13.8% | 7.9% |
| Dynex Capital DX | United States | $2.77B | -20% | +142% | -2% | 0.98× | 9.6% | -2.0% |
| National Health Investors NHI | United States | $3.50B | -5% | +24% | 11% | 2.23× | 13.0% | 10.9% |