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CT Real Estate Investment Trust (CTRRF) Fair Value & Analysis

Real Estate · US · Market cap $3.1B · ISIN CA1264621006

What is CT Real Estate Investment Trust really worth?

CR CT Real Estate Investment Trust logo CT Real Estate Investment Trust CTRRF · US
Price$12.42
Fair Value$25.66
Upside+106.6%
Quality66/100

A solid business, trading 52% below our fair value of $25.66.

As of Aug 17, 2026, the fair value of CT Real Estate Investment Trust is $25.66 per share against a price of $12.42, so the fair value sits 107% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Healthy Growth (revenue 5y +3.7 %/yr)
✓Highly profitable · 39.8% net margin
✓Moderate debt · generates free cash flow
✓Wide moat 68/100

For context

·7.61% dividend yield
Evidence: High Range $19.24 – $32.35

Fair value as of: Aug 17, 2026

From 15 valuation models · updated 20 days ago

Fair value updated Aug 17, 2026, revised from $25.52 to $25.66 (+0.5%) since Aug 13, 2026. Share price −4.5% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case ($19.24). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

$13.51 $5.61 Fair Value $25.66 Mar 2016 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 17, 2026.

How to read this chart

60‑month range $5.61 – $13.51 · fair‑value band $19.24 – $32.35 · the $12.42 price screens below the $25.66 fair value. As of Aug 17, 2026.

Full chart & analysis →

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Analysis

CT Real Estate Investment Trust (CTRRF) currently trades at $12.42, while our model-based Fair Value estimate is $25.66, implying the stock looks roughly 51.6% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate sector. Bull case: the Growth DCF group reads highest at a median of $88.41 per share, and 14 of the 15 models we run sit above the $12.42 price. Bear case: the Asset-Based group reads lowest at $12.02, and 1 of the 15 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, CT Real Estate Investment Trust generated revenue of $611M at a net margin of 39.8%. Revenue grew 4.8% year over year. It earns a return on equity of 12.2%. Net debt stands at $3.3B. Fundamentals as of Aug 17, 2026

Our scenario range runs from $19.24 (bear case) to $32.35 (bull case); at $12.42, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 14% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −51% fair-value upside, at 107%, CTRRF screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.2480 per share, which is 1.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income $16.49 $18.87 $29.70 75
FCF DCF $41.33 $84.06 $187.68 74
Growth DCF $39.82 $88.41 $161.85 74
All 15 models by family
DCF Models
FCF DCF $41.33 $84.06 $187.68 74
5Y Revenue Exit $24.03 $50.65 $87.65 69
5Y EBITDA Exit $39.22 $84.28 $143.68 72
10Y Revenue Exit $28.38 $56.43 $101.89 64
10Y EBITDA Exit $39.49 $81.54 $151.09 65
Dividend Discount
Gordon GGM $16.28 $32.45 $49.13 67
DDM Multi-Stage $16.28 $28.04 $34.25 67
Multiples
P/S Multiple $26.68 $35.58 $44.47 58
P/B Multiple $26.92 $35.89 $44.86 55
EV/EBIT $56.70 $79.28 $101.87 66
EV/EBITDA $41.07 $58.43 $75.80 67
EV/Revenue $15.78 $27.28 $38.77 52
Asset-Based
NCAV (Graham) $8.97 $12.02 $17.94 54
Growth DCF
Growth DCF $39.82 $88.41 $161.85 74
Economic Profit
Residual Income $16.49 $18.87 $29.70 75

Widest divergence: Growth DCF ($88.41) versus Asset-Based ($12.02). Highest evidence: Residual Income (75).

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Key figures & financial health

P/E ratio 10.2 as of Jun 19, 2026
P/S ratio 4.02 P/E × margin
EPS (TTM) $1.31 price ÷ EPS = P/E 10.2
Dividend yield 7.6% payout 72.1%
Net margin 39.5% FY2025
Return on equity 12.2% TTM
More key figures
Profitability
Return on assets (EBIT) 6.0% avg 5y
Operating margin 74.9% TTM
Growth
Revenue (TTM) $611M TTM
Revenue growth (YoY) +4.8% 3y avg +4.3%
EPS growth (YoY) +9.6%
Balance sheet & cash flow
Free cash flow $428M FY2025
Net debt $3.3B FY2025 · ≈ 7.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 62 · Market factors (momentum, volatility) 60

Profitability 39
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 93
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

CT Real Estate Investment Trust is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of over 375 properties totaling 31.7 million square feet of GLA, consisting primarily of net lease single-tenant retail properties across Canada.

Full company description

CT Real Estate Investment Trust is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of over 375 properties totaling 31.7 million square feet of GLA, consisting primarily of net lease single-tenant retail properties across Canada. Canadian Tire Corporation, Limited, is CT REITs most significant tenant. CT Real Estate Investment Trust was established on October 22, 2013 and incorporated in Ontario, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CT Real Estate Investment Trust reported revenue of C$604M in FY2025 versus C$515M in FY2021, a compound +4.1%/yr. Reported net income was C$238M in FY2025, compounding −15.0%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$604M
Latest YoY
+4.3%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.3%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.7%
Avg. revenue growth/yr (14Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+34.6%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +18.5% (approximate, leans on 2025) · in USD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+10.9%
Dividend yield7.6%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 10.9% vs 10Y 6.9%, picking up
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.75.4% (2020) → 75.0% (2025) · steady
Worst earnings drop53% (2023) · in USD
⚠ Rate leans on 2025: that final year sits 65% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue +4.1%/yr
FY21 C$515M
FY22 C$533M
FY23 C$553M
FY24 C$579M
FY25 C$604M
Net income −15.0%/yr
FY21 C$457M
FY22 C$325M
FY23 C$229M
FY24 C$434M
FY25 C$238M
Character of growth · EPS growth decomposed (2013-2023) +8.5 % p.a.
Revenue per share +10.6 %

of which total revenue +10.1 % · buybacks/dilution +0.4 %

EBIT margin +0.2 %
Tax rate +4.2 %
Residual (interest, one-offs) −6.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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CT Real Estate Investment Trust · Fair Value
$25.66 +52%Fair Value
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Cite: Fair Value Calculator (2026). "CT Real Estate Investment Trust Fair Value". https://www.fairvalue-calculator.com/stock/CTRRF

Peer Group

REIT - Retail · 94 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside +106% · Top 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 40% · Below median
Operating margin (TTM) 75% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 7.6% · Top 25%
Debt / equity 0.62× · Lower than median

Valuation Multiples vs REIT - Retail median · lower = cheaper

P/E (TTM) 10.2× · Cheaper than median
P/B 1.56× · Pricier than 75% of peers
P/S (TTM) 5.04× · Cheaper than median
P/FCF 7.2× · Cheaper than median
EV/EBITDA 6.6× · Cheaper than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Aug 17, 2026).

Stock Price Fair Value vs Fair Value
Simon Property Group SPG $212.32 $84.26 −60%
Realty Income Corporation O $61.98 $30.45 −51%
Unibail-Rodamco-Westfield SE URW €103.40 €98.09 −5%
Kimco Realty Corporation KIM $23.71 $12.49 −47%
CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U 2.38 SGD 0.9100 SGD −62%
Scentre Group SCG A$3.56 A$3.34 −6%
Regency Centers Corporation REG $75.92 $33.37 −56%
Link Real Estate Investment Trust (Link REIT) 0823 HK$39.76 HK$41.98 +6%
Federal Realty Investment Trust FRT $116.75 $41.47 −64%
Brixmor Property Group BRX $29.50 $12.34 −58%

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Frequently asked questions

Is CT Real Estate Investment Trust (CTRRF) overvalued or undervalued?
As of Aug 17, 2026, our model estimates a fair value of $25.66 versus a price of $12.42, about +107% upside (undervalued).
What is the fair value of CTRRF?
Our model-based fair value for CT Real Estate Investment Trust is $25.66 (as of Aug 17, 2026), built from audited fundamentals. The current price: $12.42.
What is the quality score of CTRRF?
CT Real Estate Investment Trust has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of CT Real Estate Investment Trust (CTRRF)?
CT Real Estate Investment Trust reported trailing-twelve-month revenue of about $611M (latest available figure, as of Aug 17, 2026).
What is the net profit margin of CTRRF?
The net profit margin of CT Real Estate Investment Trust is about 39.8%, meaning it keeps roughly 39.8% of revenue as net income. Based on the latest reported figures.
Does CT Real Estate Investment Trust pay a dividend?
CT Real Estate Investment Trust currently shows a dividend yield of about 7.61% relative to its recent price (as of Aug 17, 2026).
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