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SmartCentres Real Estate Investment Trust (TSE:SRU.UN)
TSX:SRU.UN
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.08Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 12, 2025
|% Change Since: 5.12%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a robust performance in rental growth, occupancy levels, and strategic leasing deals with major retailers like Walmart and Costco. Mixed-use development projects are progressing well, contributing to long-term growth prospects. However, there are concerns about the decrease in FFO per unit and higher interest expenses. Overall, the positive aspects outweigh the negatives.Company Guidance
In the SmartCentres REIT Q4 2024 conference call, several key metrics were highlighted reflecting the company's strong performance. Rental growth was reported at 8.8% on lease extensions, excluding anchors, and 6.6% overall, with cash collections exceeding 99%. The same property net operating income (NOI) increased by 3.8%, and occupancy reached a five-year high of 98.7%. SmartCentres executed 192,000 square feet of deals for vacant space in the quarter and 253,000 square feet for new retail construction over the year. In terms of financial results, net operating income for the quarter increased by $12.3 million or 9% compared to the same period last year, while funds from operations (FFO) per unit, with adjustments, rose by 9.8% to $0.56. Additionally, the company maintained a strong balance sheet with a debt to aggregate assets ratio of 43.7% and a liquidity position of approximately $833 million. These metrics underscore SmartCentres' robust operational and financial performance during the quarter and the full year.Strong Rental Growth
Rental growth was up 8.8% on lease extensions, excluding anchors, and 6.6% overall, contributing to a five-year high occupancy rate of 98.7%.
High Occupancy and Cash Collections
Occupancy reached a five-year high of 98.7%, with cash collections above 99%.
Successful Leasing and Development Deals
Executed 192,000 square feet of deals for vacant space and 253,000 square feet of deals for new retail construction. New leases with Walmart and Costco at key locations.
Mixed-use Development Progress
Achieved 1.8 million square feet of new permissions in Q4, bringing the year to a total of 9.8 million square feet. Significant ongoing projects like the 36-story ArtWalk project.
Improved Financial Performance
Net operating income increased by $12.3 million or 9% from the same quarter last year. FFO with adjustments was $0.56 per unit, a 9.8% increase from 2023.
Stable Financial Metrics
Adjusted debt to adjusted EBITDA decreased to 9.6 times from 9.8 times last quarter. Debt to aggregate assets ratio was steady at 43.7%.
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SmartCentres Real Estate Investment Trust (TSE:SRU.UN) Earnings, Revenues Date & History
TSE:SRU.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:SRU.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 12, 2025 | C$24.59 | C$25.29 | +2.85% |
| Nov 13, 2024 | C$24.52 | C$24.51 | -0.04% |
| Aug 08, 2024 | C$23.02 | C$23.10 | +0.35% |
| May 08, 2024 | C$21.52 | C$21.51 | -0.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SmartCentres Real Estate Investment Trust (TSE:SRU.UN) report earnings?
SmartCentres Real Estate Investment Trust (TSE:SRU.UN) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is SmartCentres Real Estate Investment Trust (TSE:SRU.UN) earnings time?
SmartCentres Real Estate Investment Trust (TSE:SRU.UN) earnings time is at May 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:SRU.UN EPS forecast?
Currently, no data Available
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