SmartCentres Real Estate Investment Trust

SRU.UN

Equity

ISIN null / Valor 28843450

Toronto Stock Exchange (2025-11-21)

CAD 26.19+0.65%

SmartCentres Real Estate Investment Trust
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About company

SmartCentres Real Estate Investment Trust is a publicly traded real estate investment trust that focuses on the ownership and development of shopping centers across Canada. The company works to create value for its unitholders through strategic investments in retail properties, with a strong emphasis on long-term growth and sustainability. With a diverse portfolio of properties and a focus on enhancing the customer experience, SmartCentres aims to be a leader in the Canadian retail real estate market.

Summarized from source with an LLMView SourceSector: Finance

Retail Operations

Occupancy improved to 98.6%, with approximately 148,000 square feet leased during the quarter. Rent growth reached 8.5% excluding Anchors, and Same Properties NOI increased by 4.8% (7.7% excluding Anchors), reflecting enhanced customer traffic and a stronger tenant base. Notable tenants Pacific Fresh and Costco began occupying large spaces, with openings expected later this year.

Development

The Trust's development pipeline remains robust, featuring approximately 58.9 million square feet of zoned development permissions. Three self-storage projects were completed, and nine townhomes were closed at the Vaughan NW project. Ongoing construction includes facilities in Montreal and Laval, with additional projects in Burnaby expected to open in 2027.

Financial Performance

Net rental income and other income increased by 6.1% to $141.3 million for the quarter. Funds from Operations (FFO) per unit rose to $0.58, driven by higher NOI from lease-up activities. However, net income decreased by $19.7 million compared to the same period in 2024, primarily due to a reduction in fair value gains on investment properties.

Summarized from source with an LLMView Source

Key figures

4.01%1Y

-3.57%3Y

7.25%5Y

Performance

14.2%1Y

16.3%3Y

18.0%5Y

Volatility