)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
PRO Real Estate Investment Trust (PRV-UN) investor relations material
PRO 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 summary12 Nov, 2025
Executive summary
Completed transition to a pure-play industrial REIT with the sale of 12 non-core retail properties for CAD 51.3 million, now with 91.7% of GLA and 89.4% of base rent from industrial assets.
Achieved significant scale in Winnipeg, becoming a top three industrial landlord with 21 properties, 1.3 million sq. ft. of GLA, and 99.9% occupancy.
Maintained strong performance in Atlantic Canada, with Halifax industrial rents up over 15% year-over-year and Atlantic Canada accounting for 45.4% of base rent.
Occupancy rate at 95.5% (98.1% excluding a single large vacancy); 74.8% of 2025 GLA and 54.8% of 2026 GLA renewed at strong positive spreads.
Strategic focus on light industrial properties in Canada, with a refreshed brand identity and tagline, "Strong Foundations, Industrial Edge."
Financial highlights
Property revenue rose 12.8% year-over-year to CAD 27.1 million in Q3 2025, despite owning 10 fewer properties.
Net operating income (NOI) increased 19.6% to CAD 17.1 million; same property NOI up 9.7%, led by 10.5% growth in industrial segment.
Funds from operations (FFO) grew 22.2% to CAD 8 million; AFFO was CAD 8.3 million, up 18.7% year-over-year.
Basic AFFO per unit up 7.2% year-over-year; basic payout ratio improved to 91.1% from 97.7%.
Net income for Q3 2025 was CAD 12.9 million, up from CAD 3.3 million in Q3 2024; NAV per unit at September 30, 2025 was CAD 7.78.
Outlook and guidance
Expecting mid-single digit same property NOI growth for Q4 and full year, despite a large vacancy impacting Q4.
Leasing spreads for 2026 maturities expected to remain healthy at around 30%.
Well positioned to strengthen as a leading Canadian light industrial REIT, targeting CAD 2 billion in assets and 45% Adjusted Debt to Gross Book Value in 3–5 years.
Atlantic Canada portfolio expected to benefit from record project investment in 2025 and sustained economic momentum into 2026.
Approximately CAD 30 million in capacity for new acquisitions, with no further dispositions planned.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next PRO Real Estate Investment Trust earnings date
Q4 20255 Mar, 2026
Next PRO Real Estate Investment Trust earnings date
Q4 20255 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
PRO Real Estate Investment Trust (PRO REIT) is a Canadian real estate investment trust focused on acquiring and managing a diversified portfolio of commercial properties. The company's portfolio includes retail, industrial, office, and mixed-use properties, primarily located in secondary markets across Canada. PRO REIT generates income through leasing its properties to a variety of tenants, aiming to deliver stable cash flow and long-term value appreciation. The company is headquartered in Montreal, Canada, and its shares are listed on the Toronto Stock Exchange.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage