realestate

REIT Pro Releases Q3 2024 Financial Results

Pro REIT Reports Q3 2024 Earnings: CA$24.0M Revenue, Key Financial Highlights

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evenue remained flat at CA$24.0m in 3Q 2024, compared to the same period last year. Net income plummeted by 70% to CA$3.33m, resulting in a profit margin of 14%, down from 47% in 3Q 2023. The company's shares have dropped 1.2% over the past week.

    Looking ahead, revenue is expected to remain stagnant for the next three years, contrasting with the Canadian REITs industry's predicted 2.7% growth rate. It's essential to consider potential risks, such as Pro Real Estate Investment Trust's four warning signs, including one that is significant.

    The company's performance lags behind the broader Canadian REITs industry. As always, it's crucial to consult with a financial advisor and conduct thorough research before making any investment decisions.

Real estate investment trust releases quarterly financial report for Q3 2024.