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    REIT - Specialty
Nova Net Lease REIT

Nova Net Lease REIT

NNLRF
Nova Net Lease REITUS flagOther OTC
0.42
USD
+0.07
- -
3.33MMarket Cap
Nova Net Lease REIT
NNLRF
(Other OTC)

Recent

price

0.42

P/E

ratio

- -

div

yld

- -

ROIC.AI

2021
2022
2023
TTM
FRC
- -
0.22
0.21
0.21
Revenue per Share
- -
1.11
0.23
-0.12
Basic EPS, GAAP
- -
-0.29
-0.05
-0.02
Free Cash Flow per Basic Share
- -
0.03
0.01
- -
Dividend per Share
- -
1.62
1.21
1.07
Book Value per Share
- -
1.62
1.77
1.62
Tangible Book Value per Share
- -
7
7
7
Basic Weighted Avg Shares
- -
2
2
2
Sales/Revenue/Turnover
- -
-72.53
-13.76
-6.09
Operating Margin (%)
- -
- -
- -
- -
Depreciation Expense
- -
8
2
-1
Net Income, GAAP
- -
- -
- -
- -
Effective Tax Rate (%)
- -
497.79
105.55
-57.74
Profit Margin (%)
- -
1
1
- -
Working Capital
- -
- -
2
2
LT Debt
- -
11
13
12
Total Equity
- -
-19.62
-1.64
- -
Return on Invested Capital (%)
- -
138.11
15.78
216.73
Return on Capital (%)
- -
134.42
16.34
-8.69
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'24
Jun'24
Sep'24
ST Debt
- -
- -
- -
LT Borrowings
2
2
2
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
7
7
7
Market Capitalization
2
1
1

Working Capital

FRC

•

in mil. unless spec.
Mar'24
Jun'24
Sep'24
Total Current Assets
1
1
1
Cash, Cash Equivalents & STI
- -
- -
- -
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
3
1
1
Payables & Accruals
1
1
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
14.04%
Free Cash Flow
- -
- -
-80.83%
Net Income, GAAP
- -
- -
-78.78%
Sales/Revenue/Turnover
- -
- -
0.09%
Total Cash Common Dividend
- -
- -
-57.69%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
- -
- -
- -
- -
2
2023
- -
- -
- -
- -
2
2024
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
-0.03
0.04
0.08
- -
1.11
2023
- -
-0.1
0.34
- -
0.23
2024
-0.3
0.24
-0.07
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
0.01
0.01
0.01
- -
0.03
2023
0.01
- -
- -
- -
0.01
2024
- -
- -
- -
- -
- -
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Business
Nova Net Lease REIT operates as an open-ended real estate investment trust focused on acquiring specialized industrial and retail properties, primarily cannabis-related facilities leased to experienced, licensed operators in the United States; its portfolio previously included properties such as a 70,000 square foot vertically integrated operation in Kalamazoo, Michigan tenanted by Cloud Cannabis, and through a 2023 joint venture with a Nevada investor group, facilities in Mesquite and West Wendover, Nevada comprising 98,500 square feet used for headquarters, cultivation, manufacturing, and dispensary operations by Deep Roots. The REIT, formed on July 27, 2021 pursuant to a declaration of trust under the laws of the Province of Ontario and headquartered at 200 Bay Street, Toronto, Ontario, Canada, primarily serves the U.S. cannabis industry across states including Michigan and Nevada through its operating partnership, Nova Net Lease Operating LLC, with units listed on the Canadian Securities Exchange under NNL.U and OTCQB under NNLRF. In a major strategic shift, the REIT closed the sale of substantially all its non-financial assets, specifically Class A Units of Nova Net Lease Operating LLC held by subsidiary Verdant Growth Properties Corp., to Bluebird Real Estate Holdings, LLC in January 2025 for gross proceeds of US$3.71 million, followed by an announcement of a liquidating distribution estimated at US$0.43 per REIT unit payable on February 20, 2025 to unitholders of record as of February 13, 2025, and the subsequent termination of the REIT in the first quarter of 2025.