Yorkton Equity Group Inc.
Strong Rental Demand and Cap Rate Compression Fuel Positive Outlook
Published: 12/2/2024
Author: FRC Analysts
*See important disclosures at the bottom of this reportSector: Real Estate-Diversified | Industry: Real Estate
Ticker Symbols:
YEG - TSX 🔹
- Q3 revenue was up 31% YoY, while EBITDA rose 34% YoY, primarily driven by property acquisitions. Revenue and EBITDA remained relatively flat QoQ. Net income grew YoY from just $2k (EPS: $0.00), to $1.19M (EPS: $0.01). Revenue and EPS came in 1% and 3% below our estimates, respectively.
- At the end of Q3-2024, YEG owned $130M in real estate investments, including 10 residential projects totaling 518 units, and one commercial project spanning 28,036 sq. ft. Property valuations