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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Vital Infrastructure Property Trust
Vital Infrastructure Property Trust (VITL.UN) investor relations material
Vital Infrastructure Property Trust Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Portfolio included 107 properties with 96.9% occupancy and 12.7-year WALE at September 30, 2026.
Same-property NOI grew 3.5% YoY excluding Canadian facilities-outsourcing impacts, or 2.6% including them.
Reported results were affected by Vital Trust deconsolidation and European asset sales; acquisitions, refinancing and the planned Calvary transition advanced portfolio repositioning.
Financial highlights
Q3 revenue from investment properties was $61.2M vs. $104.3M YoY; net income was $21.9M vs. $31.2M.
Q3 AFFO was $25.4M, or $0.10/unit, vs. $26.3M and $0.11/unit; payout ratio rose to 89% from 85%.
Proportionate NOI was $55.6M, down 16.8% YoY, while Adjusted EBITDA was $54.4M, down 14.3%.
Q3 SPNOI was $51.8M, up 2.6% including outsourcing costs and 3.5% excluding them.
9M AFFO was $77.5M, or $0.31/unit, vs. $76.1M and $0.30/unit.
Outlook and guidance
Target annualized G&A run rate is ~$35M by year-end 2026; further savings are expected to be more modest.
Calvary transition at 12 Australian hospitals is targeted for November 30, 2026, subject to definitive documentation, approvals and other conditions.
Calvary lease incentives are expected to reduce annualized AFFO by ~$0.01/unit during the first 48 months; the revised lease is expected to lift Australian portfolio WALE to ~18 years.
Barrie ambulatory centre construction is expected to start in Q4 2026; completion is targeted for Q4 2029 at an estimated cost of $112M.
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Latest events from Vital Infrastructure Property Trust
- AFFO rose 3.7% year-over-year, with high occupancy and major North American acquisitions.VITL.UN
Q2 2026 - Trustees and auditor were elected, all proposals passed, and final results will be published.VITL.UNAGM 2026
- Q1 2026 saw 3% NOI growth, high occupancy, and strong liquidity for future investments.VITL.UNQ1 2026
- FFO and AFFO per unit rose, leverage fell, and major asset sales drove North American focus.VITL.UNQ4 2025
- AFFO per unit up 19%, payout ratio at 88%, and net income positive in Q2 2025.VITL.UNQ2 2025
- Asset sales, refinancing, and high occupancy drive lower leverage and set up a 2025 turnaround.VITL.UNQ3 2024
- Major asset sales and strong operations drive deleveraging and position for improved earnings.VITL.UNQ2 2024
- AFFO per unit up 15%, leverage down, and over $260M in asset sales boosted liquidity.VITL.UNQ1 2025
- AFFO per unit up to 15%, leverage down, and investment-grade rating achieved in Q4 2024.VITL.UNQ4 2024
Next Vital Infrastructure Property Trust earnings date
Q4 202612 Mar, 2027
Vital Infrastructure Property Trust
Next Vital Infrastructure Property Trust earnings date
Q4 202612 Mar, 2027
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Frequently asked questions
NorthWest Healthcare Properties Real Estate Investment Trust is an open-ended real estate investment trust formed under the laws of the Province of Ontario. The objectives of NorthWest are to (i) provide investors with stable and growing cash distributions on a tax-efficient basis; (ii) enhance the value of its assets and maximize long-term unit value; and (iii) expand the asset base of NorthWest, through accretive acquisitions, development and other organic growth initiatives, including expansions, renovations and conversions.