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Last C$0.53 CAD
Change Today 0.00 / 0.00%
Volume 7.0K
As of 12:33 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

lanesborough real estate-uts (LRT-U) Snapshot

Open
C$0.53
Previous Close
C$0.53
Day High
C$0.53
Day Low
C$0.53
52 Week High
07/21/14 - C$1.44
52 Week Low
01/15/15 - C$0.30
Market Cap
10.6M
Average Volume 10 Days
6.7K
EPS TTM
C$-0.97
Shares Outstanding
20.1M
EX-Date
09/28/09
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for LANESBOROUGH REAL ESTATE-UTS (LRT-U)

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lanesborough real estate-uts (LRT-U) Details

Lanesborough Real Estate Investment Trust operates as an unincorporated closed-end real estate investment trust, which invests in a portfolio of retail, residential, industrial, and office properties in Canada. The portfolio of the trust consisted of 4 commercial properties and 14 multifamily residential projects, as of May 4, 2005. The trust was established in 2002 under the laws of the Province of Manitoba and is headquartered in Winnipeg, Canada.

Founded in 2002

lanesborough real estate-uts (LRT-U) Top Compensated Officers

Founder, Chief Executive Officer and Trustee
Total Annual Compensation: C$500.0K
Compensation as of Fiscal Year 2013.

lanesborough real estate-uts (LRT-U) Key Developments

Lanesborough Real Estate Investment Trust Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Lanesborough Real Estate Investment Trust reported earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, net operating income was $5.2 million against $6.0 million last year. Loss before gain on sale of investment properties, fair value adjustments and fair value adjustment of Parsons Landing was $1 million against $0.3 million last year. Loss for the period before discontinued operations was $16.6 million against $0.7 million last year. Comprehensive loss was $18.3 million against $0.5 million last year. The increase in the loss mainly reflects a decrease in net operating income of $0.86 million, partially offset by a decrease in interest expense of $0.70 million. The decrease in net operating income is mainly due to a decrease in the net operating income of the Fort McMurray portfolio. The decrease in interest expense mainly reflects a reduction in interest charges related to the change in fair value of the interest rate swap liability. Rentals from investment properties were $9.5 million against $10.1 million last year. For the year, rentals from investment properties were $38.3 million against $40.3 million last year. Net operating income was $21.8 million against $24.2 million last year. Loss before discontinued operations was $20.9 million against income before discontinued operations of $14.7 million last year. Loss and comprehensive loss was $22.2 million against income and comprehensive income of $15.5 million last year. Cash used in operating activities was $0.8 million against cash provided by operating activities of $1.6 million last year. Funds from operations was negative at $4.0 million against $0.9 million last year. Adjusted funds from operations was negative at $6.1 million against $3.9 million last year. Loss before gain on sale of investment properties, fair value adjustments –investment properties and fair value adjustment of Parsons Landing was $4.4 million against $1.4 million last year.

Lanesborough REIT Auditor Raises 'Going Concern' Doubt

Lanesborough REIT filed its Annual on Mar 11, 2015 for the period ending Dec 31, 2014. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Lanesborough Real Estate Investment Trust to Redeem All Outstanding 9% Second Mortgage Bonds Due December 24, 2015, Effective February 12, 2015

Lanesborough Real Estate Investment Trust announced that it has delivered notice to the holders of outstanding 9% second mortgage bonds due December 24, 2015 that pursuant to Section 4.2 of the indenture governing the bonds dated December 23, 2010, the company will, effective February 12, 2015 (redemption date), redeem all issued and outstanding bonds, plus accrued interest thereon. There are 16,000 bonds outstanding in the aggregate principal amount of $6,000,000 ($375 per bond) as at the date hereof. Accordingly, on the redemption date, subject to compliance with the bond indenture, the holder of each bond will receive a total payment of $385.60, comprised of a principal repayment of $378.75 (representing 101% of the outstanding principal amount of $375) and interest of $6.84246 for the 74 day period from November 30, 2014 until the redemption date. All interest on the bonds shall cease from and after the redemption date. Certificates representing the bonds must be tendered to the bond trustee, BNY Trust Company of Canada, at 320 Bay Street, 11th Floor, Toronto, ON M5H 4A6, attention: operations dept.

 

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