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Visual21 Nov 2025
Data center suppliers
Canadian Net Real Estate Investment Trust (NET-UN) investor relations material
Canadian Net Real Estate Investment Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary19 Nov, 2025
Executive summary
Achieved 9% year-over-year growth in normalized FFO per unit for the nine months ended September 30, 2025, maintaining 100% occupancy and focusing on necessity-based real estate.
Actively evaluating accretive acquisition opportunities to build on portfolio strengths.
Successfully navigated higher interest rates and a closed capital markets environment by repaying convertible debentures and reallocating capital from asset dispositions.
Financial highlights
Normalized FFO per unit reached CAD 0.494 for the nine months ended September 30, 2025, up from CAD 0.453 in 2024.
Normalized FFO totaled CAD 10.2 million, a 9% increase from CAD 9.3 million year-over-year.
NOI rose 6% to CAD 15.1 million, and property rental income increased 7% to CAD 20.7 million for the same period.
Q3 2025 FFO was $3.4M ($0.164/unit), up 20% year-over-year; rental income for Q3 2025 was $6.9M, up 11.5% year-over-year.
AFFO for the nine months was $9.8M ($0.474/unit), up 13% year-over-year.
Outlook and guidance
Focus remains on acquisitions and refinancing to support future growth, with refinancing proceeds in 2025 allocated to debenture repayment.
Announced monthly cash distributions of $0.02917 per unit for January, February, and March 2026, annualized at $0.35 per unit.
Management remains committed to portfolio growth and evaluating new acquisition opportunities.
Drivers of investment property fair value changes
Funding strategy for future acquisitions
Factors supporting distribution sustainability
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Next Canadian Net Real Estate Investment Trust earnings date
Q4 202518 Mar, 2026
Next Canadian Net Real Estate Investment Trust earnings date
Q4 202518 Mar, 2026
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Frequently asked questions
Canadian Net Real Estate Investment Trust is an open-ended real estate investment trust that specializes in acquiring and owning high-quality triple-net and management-free commercial real estate properties. Its portfolio primarily includes properties leased to tenants in various sectors such as fast food restaurants, convenience stores, and gas stations, emphasizing the acquisition of commercial real estate properties that provide stable and reliable income streams without the need for active management by the trust. . The company is headquartered in Pointe-Claire, Quebec, Canada, and its shares are listed on the TSX.
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