Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Melcor REIT Un (TSE:MR.UN)
TSX:MR.UN
Holding TSE:MR.UN?
Track your performance easily
Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-C$0.21Same Quarter Last Year
Based on 0 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 7.60%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Negative
The earnings call presents a mixed outlook. While there are positive developments such as successful asset sales and strong tenant retention, these are overshadowed by declines in key financial metrics, occupancy challenges, and increased costs. The strategic review and asset sales indicate a focus on restructuring and debt reduction, but financial pressures and distribution suspension pose significant concerns.Company Guidance
During the Melcor REIT Q2 2024 earnings call, Naomi Stefura highlighted several financial metrics indicating a challenging quarter for the company. Rental revenue and Net Operating Income (NOI) both experienced slight declines compared to the same period in 2023, with same-asset NOI decreasing by 1%. The Funds from Operations (FFO) dropped by 12% to $5.46 million, equating to $0.19 per unit, while Adjusted Cash Flow from Operations (ACFO) fell by 15% to $3.55 million or $0.12 per unit. These declines were attributed to increased General and Administrative (G&A) costs and higher cash finance costs linked to rising interest rates. The strategic sale of the Richter Street property generated net proceeds of $7.5 million, with a portion allocated towards debt repayment. The REIT also renewed part of its $50 million revolving credit facility, facing upcoming challenges with convertible debenture maturity. Operationally, the REIT retained 89% of expiring leases and signed new leases totaling 50,000 square feet, despite a drop in occupancy from 88% to 87% and downward pressure on office lease rents.Sale of Richter Street Property
Melcor REIT closed the sale of a 29,000 square foot office building in Kelowna, BC, for net proceeds of $7.5 million, with $5 million reinvested in GICs and $2.5 million used to pay down the credit facility.
High Tenant Retention and New Leases
The REIT retained 89% of expiring leases, totaling over 271,000 square feet, and signed 50,000 square feet in new leases.
Strong Interest in Grande Prairie Asset
The Grande Prairie retail property has garnered strong institutional interest, with ongoing negotiations with a qualified buyer.
---
TSE:MR.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
TSE:MR.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | C$4.87 | C$4.90 | +0.62% |
| Jul 30, 2024 | C$2.95 | C$3.00 | +1.69% |
| May 08, 2024 | C$2.98 | C$2.84 | -4.70% |
| Mar 06, 2024 | C$2.40 | C$2.60 | +8.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Melcor REIT Un (TSE:MR.UN) report earnings?
Melcor REIT Un (TSE:MR.UN) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Melcor REIT Un (TSE:MR.UN) earnings time?
Melcor REIT Un (TSE:MR.UN) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:MR.UN EPS forecast?
Currently, no data Available
---