Nova Net Lease REIT
Nova Net Lease REIT (the REIT) was formed on July 27, 2021, as a newly created, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario, where one unit of the REIT was issued for $10 in cash.
Nova Net Lease REIT (NNLRF) - Net Assets
Latest net assets as of September 2024: $12.03 Million USD
Based on the latest financial reports, Nova Net Lease REIT (NNLRF) has net assets worth $12.03 Million USD as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($15.43 Million) and total liabilities ($3.40 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 | $12.03 Million |
| % of Total Assets | 77.98% |
| Annual Growth Rate | 683.13% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 2624.46 |
Nova Net Lease REIT - Net Assets Trend (2021–2023)
This chart illustrates how Nova Net Lease REIT's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Nova Net Lease REIT (2021–2023)
The table below shows the annual net assets of Nova Net Lease REIT from 2021 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $12.87 Million | +14.04% |
| 2022-12-31 | $11.29 Million | +5262.95% |
| 2021-12-31 | $210.43K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Nova Net Lease REIT'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 938014100.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $8.79 Million | 40.67% |
| Common Stock | $4.13 Million | 19.11% |
| Other Comprehensive Income | $211.76K | 0.98% |
| Other Components | $8.48 Million | 39.25% |
| Total Equity | $21.62 Million | 100.00% |
Nova Net Lease REIT Competitors by Market Cap
The table below lists competitors of Nova Net Lease REIT ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Riedel Resources Ltd
AU:RIE
|
$1.23 Million |
|
Circle Internet Group, Inc.
NYSE:CRCL
|
$1.23 Million |
|
Pudjiadi Prestige Tbk
JK:PUDP
|
$1.23 Million |
|
iMining Blockchain and Cryptocurrency Inc
PINK:IBKKF
|
$1.23 Million |
|
Ortin Laboratories Limited
NSE:ORTINLAB
|
$1.22 Million |
|
AIS Resources Ltd
V:AIS
|
$1.22 Million |
|
Burzynski Research
PINK:BZYR
|
$1.22 Million |
|
Sultan Resources Ltd
AU:SLZ
|
$1.22 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Nova Net Lease REIT's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 11,285,093 to 21,616,880, a change of 10,331,787 (91.6%).
- Net income of 1,642,236 contributed positively to equity growth.
- Dividend payments of 78,474 reduced retained earnings.
- Other comprehensive income increased equity by 230,792.
- Other factors increased equity by 8,537,233.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.64 Million | +7.6% |
| Dividends Paid | $78.47K | -0.36% |
| Other Comprehensive Income | $230.79K | +1.07% |
| Other Changes | $8.54 Million | +39.49% |
| Total Change | $- | 91.55% |
Book Value vs Market Value Analysis
This analysis compares Nova Net Lease REIT'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: 0.13x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $0.00 | $0.24 | x |
| 2022-12-31 | $0.76 | $0.24 | x |
| 2023-12-31 | $1.91 | $0.24 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Nova Net Lease REIT 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): 7.60%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 105.55%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 0.74x
- Recent ROE (7.60%) is above the historical average (-67.18%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -277.72% | -368.99% | 0.01x | 55.93x | $-605.43K |
| 2022 | 68.57% | 497.79% | 0.12x | 1.12x | $6.61 Million |
| 2023 | 7.60% | 105.55% | 0.10x | 0.74x | $-519.45K |
Industry Comparison
This section compares Nova Net Lease REIT's net assets metrics with peer companies in the REIT - Specialty industry.
Industry Context
- Industry: REIT - Specialty
- Average net assets among peers: $2,464,316,437
- Average return on equity (ROE) among peers: 25.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Nova Net Lease REIT (NNLRF) | $12.03 Million | -277.72% | 0.28x | $1.23 Million |
| American Tower Corp (AMT) | $3.68 Billion | 17.30% | 2.82x | $86.39 Billion |
| Automotive Properties Real Estate Investment Trust (APPTF) | $663.40 Million | 10.85% | 0.79x | $198.09 Million |
| Crown Castle (CCI) | $11.57 Billion | 5.38% | 1.83x | $36.18 Billion |
| DIGITAL CORE REIT (DGTCF) | $1.28 Billion | 16.05% | 0.57x | $460.68 Million |
| Digital Realty Trust Inc (DLR) | $1.56 Billion | 4.33% | 1.10x | $55.29 Billion |
| EPR Properties (EPR) | $1.47 Billion | 0.55% | 0.83x | $4.20 Billion |
| Equinix Inc (EQIX) | $2.75 Billion | 6.84% | 2.77x | $92.84 Billion |
| Charter Hall Social Infrastructure REIT (FKKEF) | $1.43 Billion | 4.96% | 0.49x | $693.51 Million |
| Farmland Partners Inc (FPI) | $333.37K | 175.89% | 109.73x | $467.58 Million |
| Gaming & Leisure Properties (GLPI) | $236.33 Million | 9.70% | 0.13x | $12.88 Billion |