Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
StorageVault Canada Inc. (SVI-X) reported a net loss of $9.4-million in the third quarter versus a net loss of $6.4-million for the same quarter last year.
Revenue for the third quarter increased to $37.3-million compared to $25.7-million a year ago and ahead of expectations of $35.6-million.
StorageVault also said it’s increasing its quarterly dividend by 0.5 per cent beginning in the fourth quarter to $0.002653 per share.
**
Automotive Properties Real Estate Investment Trust (APR.UN-T) reported third-quarter property rental revenue was $17.3-million, an increase of 46.6 per cent from the third quarter of 2018 and in line with expectations. Net operating income was $14.7-million, an increase of 46.8 per cent from last year.
Net income was $1.1-million, compared to $5.7-million a year ago. "The negative variance is primarily attributable to the change in the fair value adjustment for Class B LP Units, as well as higher interest expense and other financing charges, partially offset by growth in NOI [net operating income]," the company stated.
Funds from operations increased 47.5 per cent to $9.8-million or 24.6 cents per share, which was in line with expectations.
The REIT also said it bought the Straightline Kia automotive dealership property in Calgary from an affiliate of the JV Driver Group for $8.4-million.
**
Birchcliff Energy Ltd. (BIR-T) reported a net loss to common shareholders of $46.9-million or 18 cents per share in the third quarter as compared to net income to common shareholders of $6.7-million or 3 cents a year ago. “The change to a net loss position from a net income position was primarily due to an unrealized mark-to-market loss on financial instruments of $60.9-million ($46.9-million, net of tax) recorded in Q3 2019 as compared to $7.3-million ($5.4-million, net of tax) in Q3 2018, as well as lower adjusted funds flow,” the company stated.
Birchcliff said its adjusted funds flow was $63-million or 24 cents per share in the quarter versus $75.4-million or 28 cents a year ago. Analysts were expecting adjusted funds flow of 22 cents per share.
**
NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) reported revenue increased to $91.1-million in the third quarter versus $87-million a year ago. Net income increased to $17.7-million versus a loss of $28.5-million a year ago.
**
Alcanna Inc. (CLIQ-T) reported third-quarter sales of $219.5-million up from $173.3-million a year ago and ahead of expectations of $206.1-million.
Its net loss was $3-million or 9 cents per share versus a loss of $3.8-million or 11 cents per share a year ago.
Its adjusted net loss was $1.1-million or 4 cents per share versus an adjusted net loss of $2.5-million or 7 cents a year ago.
**
Morguard Corp. (MRC-T) announced a plan to buy Temple Hotels Inc. (TPH-T) for $2.10 per share, an 18-per-cent premium to Temple’s closing share price on Thursday.
Morguard currently owns 54.5 million Temple common shares, or 72.6 per cent of the company "and has informed Temple that it is not prepared to entertain alternative transactions and has no intention of disposing of its holding in Temple."
The company also said G2S2 Capital Inc. and Simé Armoyan, which collectively own 16.9 per cent of the company, have entered into definitive support agreements agreeing to support and vote in favour of the deal.