Canadian Net Real Estate Investment Trust
Canadian Net is an active Trust operating in the Canadian commercial real estate market. The Trust currently trades on the TSX Venture using the ticker symbol NET.UN. The Trust owns and rents commercial real estate properties directly, through its wholly-owned subsidiaries and joint ventures. Prior to June 17, 2021, the Trust operated under the name of Fronsac Real Estate Investment Trust and tic… Read more
Canadian Net Real Estate Investment Trust (CNNRF) - Net Assets
Latest net assets as of September 2025: $135.99 Million USD
Based on the latest financial reports, Canadian Net Real Estate Investment Trust (CNNRF) has net assets worth $135.99 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($316.82 Million) and total liabilities ($180.83 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $135.99 Million |
| % of Total Assets | 42.92% |
| Annual Growth Rate | 42.36% |
| 5-Year Change | 43.49% |
| 10-Year Change | 6783.07% |
| Growth Volatility | 244.84 |
Canadian Net Real Estate Investment Trust - Net Assets Trend (2006–2024)
This chart illustrates how Canadian Net Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Canadian Net Real Estate Investment Trust (2006–2024)
The table below shows the annual net assets of Canadian Net Real Estate Investment Trust from 2006 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $129.44 Million | -0.04% |
| 2023-12-31 | $129.49 Million | +9.10% |
| 2022-12-31 | $118.69 Million | -8.57% |
| 2021-12-31 | $129.81 Million | +43.91% |
| 2020-12-31 | $90.21 Million | +75.70% |
| 2019-12-31 | $51.34 Million | +21.40% |
| 2018-12-31 | $42.29 Million | +15.21% |
| 2017-12-31 | $36.71 Million | +71.38% |
| 2016-12-31 | $21.42 Million | +1038.98% |
| 2016-03-31 | $1.88 Million | -86.70% |
| 2015-12-31 | $14.14 Million | +3.91% |
| 2014-12-31 | $13.61 Million | +25.23% |
| 2013-12-31 | $10.87 Million | +14.39% |
| 2012-12-31 | $9.50 Million | +97.56% |
| 2011-12-31 | $4.81 Million | +99.62% |
| 2010-12-31 | $2.41 Million | +9.87% |
| 2009-12-31 | $2.19 Million | -0.61% |
| 2008-12-31 | $2.21 Million | +465.52% |
| 2007-12-31 | $390.06K | +73.95% |
| 2006-12-31 | $224.24K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Canadian Net Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1586878.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $26.33 Million | 20.34% |
| Common Stock | $103.04 Million | 79.61% |
| Other Comprehensive Income | $71.40K | 0.06% |
| Total Equity | $129.44 Million | 100.00% |
Canadian Net Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Canadian Net Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Euroapi SAS
PA:EAPI
|
$65.91 Million |
|
EUROAPI SAS EO 1
F:940
|
$65.91 Million |
|
Synlait Milk Limited
PINK:SMLKF
|
$65.97 Million |
|
Nova Vision Acquisition Corp
NASDAQ:NOVV
|
$65.98 Million |
|
MINDs Lab Inc.
KQ:377480
|
$65.88 Million |
|
LINAS AGRO GROUP EO 029
F:YG4
|
$65.88 Million |
|
Stalprodukt SA
WAR:STP
|
$65.87 Million |
|
Bamboo Capital JSC
VN:BCG
|
$65.87 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Canadian Net Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 129,487,381 to 129,440,950, a change of -46,431 (-0.0%).
- Net income of 7,103,541 contributed positively to equity growth.
- Dividend payments of 7,091,138 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $7.10 Million | +5.49% |
| Dividends Paid | $7.09 Million | -5.48% |
| Other Changes | $-58.83K | -0.05% |
| Total Change | $- | -0.04% |
Book Value vs Market Value Analysis
This analysis compares Canadian Net Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.60x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.86x to 0.60x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | $2.05 | $3.80 | x |
| 2007-12-31 | $1.41 | $3.80 | x |
| 2008-12-31 | $3.36 | $3.80 | x |
| 2009-12-31 | $1.93 | $3.80 | x |
| 2010-12-31 | $1.91 | $3.80 | x |
| 2011-12-31 | $3.44 | $3.80 | x |
| 2012-12-31 | $4.10 | $3.80 | x |
| 2013-12-31 | $2.91 | $3.80 | x |
| 2014-12-31 | $3.62 | $3.80 | x |
| 2015-12-31 | $2.83 | $3.80 | x |
| 2016-12-31 | $3.80 | $3.80 | x |
| 2017-12-31 | $5.44 | $3.80 | x |
| 2018-12-31 | $4.64 | $3.80 | x |
| 2019-12-31 | $4.59 | $3.80 | x |
| 2020-12-31 | $5.98 | $3.80 | x |
| 2021-12-31 | $6.40 | $3.80 | x |
| 2022-12-31 | $5.76 | $3.80 | x |
| 2023-12-31 | $6.30 | $3.80 | x |
| 2024-12-31 | $6.30 | $3.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Canadian Net Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.49%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.19%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 2.33x
- Recent ROE (5.49%) is above the historical average (-4.94%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 0.74% | 0.00% | 0.00x | 1.14x | $-20.76K |
| 2007 | -16.01% | 0.00% | 0.00x | 1.03x | $-101.46K |
| 2008 | -8.16% | -235.67% | 0.02x | 1.54x | $-400.65K |
| 2009 | -2.48% | -16.34% | 0.05x | 2.77x | $-273.64K |
| 2010 | -14.34% | -72.12% | 0.08x | 2.53x | $-586.24K |
| 2011 | -2.13% | -19.99% | 0.05x | 1.94x | $-583.26K |
| 2012 | 11.25% | 63.80% | 0.12x | 1.52x | $118.19K |
| 2013 | 11.59% | 112.43% | 0.05x | 2.05x | $171.46K |
| 2014 | -5.39% | -48.74% | 0.07x | 1.68x | $-2.09 Million |
| 2015 | 9.54% | 58.89% | 0.07x | 2.39x | $-64.64K |
| 2016 | -161.28% | 0.00% | 0.00x | 2.08x | $-3.22 Million |
| 2016 | 15.66% | 112.08% | 0.06x | 2.26x | $1.21 Million |
| 2017 | 12.37% | 103.93% | 0.06x | 1.91x | $870.10K |
| 2018 | -2.12% | -14.28% | 0.06x | 2.36x | $-5.13 Million |
| 2019 | 7.95% | 43.47% | 0.07x | 2.51x | $-1.05 Million |
| 2020 | 10.67% | 74.08% | 0.06x | 2.32x | $600.54K |
| 2021 | 19.33% | 132.38% | 0.07x | 2.14x | $12.11 Million |
| 2022 | -5.47% | -26.26% | 0.08x | 2.55x | $-18.36 Million |
| 2023 | 14.07% | 61.50% | 0.10x | 2.38x | $5.27 Million |
| 2024 | 5.49% | 27.19% | 0.09x | 2.33x | $-5.84 Million |
Industry Comparison
This section compares Canadian Net Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $1,431,457,758
- Average return on equity (ROE) among peers: 3.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Canadian Net Real Estate Investment Trust (CNNRF) | $135.99 Million | 0.74% | 1.33x | $65.89 Million |
| American Assets Trust Inc (AAT) | $189.17 Million | -3.71% | 4.13x | $997.50 Million |
| Armada Hflr Pr (AHH) | $-37.40 Million | 0.00% | 0.00x | $449.55 Million |
| Armada Hoffler Properties, Inc. (AHRT-PA) | $805.18 Million | 1.03% | 2.18x | $1.76 Billion |
| Precinct Properties New Zealand Limited (AOTUF) | $390.30 Million | 1.91% | 0.25x | $1.05 Billion |
| Artis REIT (ARESF) | $4.10 Million | 0.00% | 1.29x | $228.58 Million |
| Ascott Residence Trust (ATTRF) | $3.13 Billion | 4.71% | 0.70x | $1.70 Billion |
| Broadstone Net Lease Inc (BNL) | $1.28 Billion | 4.27% | 1.01x | $3.74 Billion |
| British Land Company Plc (BRLAF) | $4.11 Billion | 3.88% | 1.12x | $5.24 Billion |
| Icade SA (CDMGF) | $1.16 Billion | 6.10% | 1.97x | $700.47 Million |
| Charter Hall Long WALE REIT (CHLWF) | $3.28 Billion | 18.86% | 0.43x | $1.19 Billion |