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Canadian Net Real Estate Investment Trust (NET-UN) investor relations material
Canadian Net Real Estate Investment Trust Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
FFO per unit grew 3% quarter-over-quarter and 2% year-over-year in Q2 2026, reflecting solid operational performance and successful execution of the acquisition strategy.
Acquired a Bureau en Gros property at a 7% cap rate in Quebec, closing late in Q2, with contributions expected from Q3 onward.
Portfolio maintained 100% occupancy, with all 2026 lease renewals completed.
Financial highlights
FFO per unit for the six months ended June 30, 2026, was CAD 0.337, up 2% from CAD 0.33 year-over-year; Q2 2026 FFO: $3.53M ($0.171/unit), up 3% from Q2 2025.
FFO increased to CAD 6.94 million from CAD 6.8 million year-over-year.
NOI rose 1.1% to CAD 10.12 million for the six months; Q2 2026 NOI: $5.11M, up 1.7% year-over-year.
Property rental income increased 2.3% to CAD 14.05 million for the six months; Q2 2026 rental income: $7.11M, up 3.3% year-over-year.
IFRS value of investment properties rose to CAD 348.3 million from CAD 340.8 million year-over-year.
Outlook and guidance
Remains active in portfolio optimization and new acquisitions despite quieter summer transaction activity.
Focus remains on unlocking capital for future acquisitions and building on organic growth momentum.
Monthly distributions of $0.03/unit declared for October, November, and December 2026.
- FFO per unit grew 1%, distributions will rise 3%, and 100% occupancy was maintained.NET-UN
Q1 2026 - Record FFO growth, 100% occupancy, and improved leverage highlight a strong 2025.NET-UN
Q4 2025 - Double-digit FFO growth, 100% occupancy, and strong lease renewals drive robust results.NET-UN
Q3 2025 - FFO per unit up 8% YTD, 100% occupancy, and higher distributions on strong NOI.NET-UN
Q2 2025 - FFO and NOI fell on asset sales, but net income rose sharply on property revaluations.NET-UN
Q3 2024 - FFO fell 4% as higher rates and asset sales offset rental gains, but growth prospects improve.NET-UN
Q2 2024 - Modest FFO decline offset by accretive acquisitions and 100% occupancy, supporting 2025 growth.NET-UN
Q4 2024 - FFO per unit up 8%, net income surged, and distributions to rise 1.5% with full occupancy.NET-UN
Q1 2025
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