PMREF Stock Financial Analysis - Primaris Real Estate Investment Trust (OTCPK) Stock

Overview

Primaris Real Estate Investment Trust is a Canada-based commercial real estate investment trust (REIT) that focuses predominantly on owning and managing retail properties. Its portfolio primarily consists of shopping centers and mixed-use retail spaces situated across various Canadian provinces. A key aspect of Primaris REIT's strategy involves revitalizing and enhancing the value of middle-market retail spaces, thereby adapting to the evolving retail landscape. This includes notable redevelopment projects aimed at increasing the commercial appeal and utility of their properties to attract a diverse array of tenants and consumers. By concentrating on sustainable growth and strategic asset enhancement, Primaris REIT seeks to consistently generate stable and growing returns for its investors, positioning itself as a robust entity in the competitive retail real estate sector.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Primaris Real Estate Investment Trust as of June 30, 2025 is 563.67 MM.
The operating income for Primaris Real Estate Investment Trust as of June 30, 2025 is 283.06 MM.
The net income for Primaris Real Estate Investment Trust as of June 30, 2025 is 72.87 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	563.67	283.06	72.87
2025-03-31	532.92	268.83	64.74
2024-12-31	501.93	251.01	79.47
2024-09-30	484.39	240.84	97.65
2024-06-30	457.86	227.43	122.21
2024-03-31	433.82	212.63	112.57
2023-12-31	410.97	201.99	102.27
2023-09-30	396.96	191.15	62.65
2023-06-30	386.29	185.77	21.92
2023-03-31	384.66	186.29	-6.53
2022-12-31	380.06	183.65	-12.08
2022-09-30	346.37	170.43	11.95
2022-06-30	314.44	156.98	241.57
2022-03-31	278.56	140.51	254.35
2021-12-31	247.89	128.06	340.99
2021-09-30	250.37	128.74	359.45
2021-06-30	256.74	127.42	167.04
2021-03-31	264.80	122.53	-153.85
2020-12-31	270.23	118.57	-574.48

Income Statement: EPS

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30
2025-03-31
2024-12-31		0.71
2024-09-30	0.92	0.85
2024-06-30	1.17	1.11
2024-03-31	1.10	1.04
2023-12-31		0.96
2023-09-30	0.63	0.63
2023-06-30	0.22	0.22
2023-03-31	-0.07	-0.06
2022-12-31		-0.12
2022-09-30	0.12	0.12
2022-06-30	2.41	2.41
2022-03-31	2.51	2.51
2021-12-31	3.36	3.36
2021-09-30
2021-06-30
2021-03-31
2020-12-31

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Primaris Real Estate Investment Trust as of June 30, 2025 is 191.25 MM.
The cash from investing activities for Primaris Real Estate Investment Trust as of June 30, 2025 is -699.61 MM.
The cash from financing activities for Primaris Real Estate Investment Trust as of June 30, 2025 is 433.14 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	191.25	-699.61	433.14
2025-03-31	182.39	-458.81	261.55
2024-12-31	168.32	-369.25	171.38
2024-09-30	161.30	-409.30	294.49
2024-06-30	156.31	-413.96	296.20
2024-03-31	152.76	-435.12	297.39
2023-12-31	166.69	-467.84	334.52
2023-09-30	155.39	-305.40	151.27
2023-06-30	152.98	-142.21	31.44
2023-03-31	142.70	-125.51	20.33
2022-12-31	156.22	-104.52	-46.38
2022-09-30	193.37	-55.93	-139.94
2022-06-30	155.23	-45.83	-117.21
2022-03-31	-44.80	-40.57	98.33
2021-12-31	-75.73	-46.09	112.45
2021-09-30	-129.59	-53.80	169.32
2021-06-30	-119.58	-58.65	167.89
2021-03-31	166.23	-67.70	-102.77
2020-12-31	278.85	-79.90	-191.95

Valuation Metrics : PE, PriceToBook, PriceToTBV

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31

Management Effectiveness

The roa for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.02.
The roe for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.03.
The roic for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.01.
The croic for Primaris Real Estate Investment Trust as of June 30, 2025 is -0.00.
The ocroic for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.04.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	0.02	0.03	0.01	-0.00	0.04
2025-03-31	0.02	0.04	0.02	-0.01	0.04
2024-12-31	0.03	0.06	0.03	0.01	0.04
2024-09-30	0.03	0.06	0.03	0.01	0.04
2024-06-30		0.05
2024-03-31		0.05
2023-12-31		0.03	0.03	0.00
2023-09-30	0.01	0.01
2023-06-30	0.01	0.01
2023-03-31	-0.00	-0.00
2022-12-31	0.01	0.01	0.01	-0.00	0.09
2022-09-30	0.01	0.01	0.00	-0.00	0.06
2022-06-30	0.11	0.21	0.08	-0.00	0.05
2022-03-31	0.12	0.25	0.07	0.00	-0.01
2021-12-31	0.16	0.34	0.11	-0.00	-0.02
2021-09-30	0.17	0.36	0.18	-0.01	-0.07
2021-06-30	0.06	0.11	0.07	-0.00	-0.05
2021-03-31	-0.06	-0.10	-0.10	-0.00	0.10
2020-12-31	-0.21	-0.36	-0.36	0.00	0.17

Gross Margins

The gross margin for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.58.
The net margin for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.12.
The operating margin for Primaris Real Estate Investment Trust as of June 30, 2025 is 0.50.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	0.58	0.12	0.50
2025-03-31	0.58	0.16	0.50
2024-12-31	0.57	0.27	0.50
2024-09-30	0.57	0.27	0.50
2024-06-30
2024-03-31
2023-12-31
2023-09-30	0.56	0.06	0.48
2023-06-30	0.56	0.06	0.48
2023-03-31	0.56	-0.02	0.48
2022-12-31	0.55	0.03	0.48
2022-09-30	0.55	0.03	0.48
2022-06-30	0.55	0.75	0.49
2022-03-31	0.55	0.89	0.49
2021-12-31	0.56	1.34	0.50
2021-09-30	0.57	1.44	0.51
2021-06-30	0.51	0.64	0.51
2021-03-31	0.51	-0.58	0.46
2020-12-31	0.45	-2.13	0.45

CA:PMZ.UN	CA$15.13
DE:H0D	€8.78