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TORONTO, June 7, 2021 /CNW/ - CT Real Estate Investment Trust ("CT REIT") (TSX: CRT.UN) announced today that the Board of Trustees of CT REIT has approved a 4.5% increase in monthly distributions to $0.06994 per unit or $0.83930 on an annualized basis, commencing with the June 2021 distribution payable on July 15, 2021 to Unitholders of record on June 30, 2021.
"As CT REIT's business model continues to consistently deliver strong results, I am pleased to announce our eighth distribution increase since our IPO in 2013," said Ken Silver, CEO, CT REIT. "This increase is a reflection of the disciplined execution of a strategy focused on net lease assets, investment-grade tenants, and conservative financial management designed to deliver growth and resiliency, as has been demonstrated throughout the course of the pandemic."
This press release contains forward looking statements that reflects management's current expectations, intentions, plans, and beliefs and are subject to certain risks and uncertainties that could result in the REIT's actual results differing materially from these forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the REIT's actual results to differ from current expectations, refer to Section 4 "Risk Factors" of our Annual Information Form for fiscal 2020, and to Section 12.0 "Enterprise Risk Management" and section 14.0 "Forward-Looking Information" of CT REIT's MD&A for fiscal 2020 as well as the REIT's other public filings available at www.sedar.com and at www.ctreit.com.
About CT REIT
CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties primarily located in Canada. Its portfolio is comprised of over 350 properties totaling approximately 29 million square feet of GLA, consisting primarily of net leased single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT's most significant tenant. For more information, visit www.ctreit.com.
SOURCE CT Real Estate Investment Trust (CT REIT)
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