Added to YB: 2026-03-10
Pitch date: 2026-03-08
NET-UN.V [bullish]
Canadian Net Real Estate Investment Trust
-0.49%
current return
Author Info
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Company Info
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.
Market Cap
CAD 127.7M
Pitch Price
CAD 6.12
Price Target
N/A
Dividend
5.65%
EV/EBITDA
N/A
P/E
9.47
EV/Sales
10.62
Sector
Diversified REITs
Category
dividend
A New Buy Alert - Canadian Net Real Estate Investment Trust
NET-UN.V (new position): Canadian net lease REIT, only operator in niche, grew FFO/unit 14% CAGR since 2011 IPO (7x return). 2025 FFO/unit +9% YTD (record high) from accretive asset recycling (7-8% cap rates vs mid-4% financing), 6.9% renewal spreads (12% ex fixed leases), lower rates. 100% occupied since 2012, 52% payout ratio. Trading 9.8x FFO vs structural advantages: no competition, small size ($127M mcap), low overhead, organic growth from $6M annual principal amortization. 5.6% yield + 1.5% distribution increase (12th since 2012, never cut). Mgmt owns 16%. Expect continued FFO/unit growth + multiple expansion.
Read full article (8 min)