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Smartcentres Real Estate Investment Trust (TSE:SRU.UN)
:SRU.UN
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.08Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: -1.26%
|Next Earnings Date:Aug 09, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted strong operational metrics with significant occupancy and tenant demand, financial growth, and successful development projects. While there were challenges related to increased interest expenses and potential buyer non-closures, the positive aspects significantly outweighed the negatives.Company Guidance
During the SmartCentres REIT Q3 2024 earnings call, several key metrics were highlighted, reflecting the company's robust performance and strategic initiatives. The occupancy rate reached 98.5%, showcasing the strength of their portfolio, while same-property net operating income (NOI) increased by 8.2% excluding anchors, and nearly 5% including them. The REIT maintained strong cash collections at over 99%, and rental rate lifts on lease extensions were reported at 6.1% overall and 8.9% excluding anchor tenants. The company's development projects also advanced significantly, with the fully leased industrial development in Pickering and the ongoing construction of the 36-story ArtWalk project and The Millway apartment rental project, which was 93% leased at the quarter's end. Financially, net operating income rose by $5 million or 3.4% compared to the same quarter last year, and funds from operations (FFO) per fully diluted unit increased to $0.71 from $0.55 a year earlier. The company also reported a debt to aggregate assets ratio of 43.6% and an adjusted debt to adjusted EBITDA ratio of 9.8x for the rolling 12-month period ending in Q3.Strong Occupancy and Tenant Demand
Occupancy ended at 98.5%. Executed deals on 187,000 square feet of vacant space and 220,000 square feet of new retail construction. Tenant relationships deepened with expansions from Canadian Tire, Winners, HomeSense, LCBO, Sobeys, Loblaws, Dollarama, and more.
Notable Financial Performance
Net operating income increased by $5 million or 3.4% from the same quarter last year. FFO per fully diluted unit increased to $0.71 from $0.55 in the comparable quarter a year earlier.
Successful Development Projects
Construction is advancing for the 36-story ArtWalk project comprising 320 sold-out condominium units. The Millway apartment project was 93% leased, above planned rental rates. Self-storage portfolio continues to overperform.
Improved Financial Position
Increased operating line by $250 million to $750 million. Unencumbered asset pool increased to $9.4 billion. Raised $350 million in the quarter.
Environmental, Social, and Governance (ESG) Progress
Released annual ESG report reflecting significant program progress across the business.
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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 |
|---|---|---|---|
| Nov 13, 2024 | C$24.67 | C$24.66 | -0.04% |
| Aug 08, 2024 | C$23.17 | C$23.24 | +0.30% |
| May 08, 2024 | C$21.66 | C$21.64 | -0.09% |
| Feb 14, 2024 | C$22.50 | C$22.56 | +0.27% |
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 Feb 12, 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 Feb 12, 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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