Yorkton Equity Group Inc.
Record 2024 Results: Positive Outlook Fueled by Rent Growth & Cap Rate Compression
Published: 5/5/2025
Author: FRC Analysts
Sector: Real Estate-Diversified | Industry: Real Estate
Ticker Symbols:YEG - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $0.2 |
| Fair Value | CAD $0.34 |
| Risk | 3 |
| 52 Week Range | CAD $0.15-0.22 |
| Shares O/S (M) | 113 |
| Market Cap. (M) | CAD $23 |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | 0.7 |
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Report Highlights
- 2024 revenue was up 38% YoY to $9.4M, beating our estimate by 0.4%, driven by organic rent growth, and property acquisitions.
- EPS was up 91% to $0.06 vs our forecast of $0.03, due to higher-than-expected property valuation gains ($8.0M vs $3.8M).
- At the end of 2024, YEG owned $135M in real estate investments, including 10 residential projects totaling 518 units, and one commercial project spanning 28,036 sq. ft. With consensus estimates projecting 3%–4% organic rent growth in Alberta and B.C. (YEG’s target markets) for 2025, we anticipate YEG’s property valuations will rise by 3.5%, or $5M, this year.
- We maintain a positive outlook on the Canadian multi-family residential market, buoyed by strong rental demand, elevated property prices, and challenges in affordability due to high mortgage
