SRU-UN Stock Analysis: SmartCentres Real Estate | TO
REIT - Retail | TO, Canada | Market Cap: 5.332m CAD | 12M Return: 10% | CA83179X1087 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.75M
EPS Trend: -47.4%
Rev. Trend: 85.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
SmartCentres Real Estate Investment Trust is a Canadian retail-focused REIT with a mixed-use portfolio of 201 properties. Its assets include value-oriented retail, rental housing, offices and self-storage, alongside 3,500 acres of land.
The trust reports approximately $12.1 billion in assets and 35.5 million square feet of leasable space, with 98.1% in-place and committed occupancy. Like other REITs, it generates income by leasing property to tenants.
- High occupancy supports stable retail rents and leasing spreads
- Higher interest rates pressure property values and refinancing costs
- Mixed-use development unlocks land value but increases capital needs
| Net Income: 157.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.02 > 1.0 |
| NWC/Revenue: -116.8% < 20% (prev -118.3%; Δ 1.46% < -1%) |
| CFO/TA 0.03 > 3% & CFO 392.1m > Net Income 157.1m |
| Net Debt (5.22b) to EBITDA (370.4m): 14.09 < 3 |
| Current Ratio: 0.26 > 1.5 & < 3 |
| Outstanding Shares: last quarter (178.3m) vs 12m ago 4.60% < -2% |
| Gross Margin: 61.17% > 18% (prev 60.92%; Δ 0.25% > 0.5%) |
| Asset Turnover: 7.76% > 50% (prev 7.76%; Δ 0.01% > 0%) |
| Interest Coverage Ratio: 2.00 > 6 (EBIT TTM 362.4m / Interest Expense TTM 181.0m) |
| A: -0.09 (Total Current Assets 387.4m - Total Current Liabilities 1.48b) / Total Assets 12.1b |
| B: 0.16 (Retained Earnings 1.99b / Total Assets 12.1b) |
| C: 0.03 (EBIT TTM 362.4m / Avg Total Assets 12.0b) |
| D: 0.86 (Book Value of Equity 5.08b / Total Liabilities 5.89b) |
| Altman-Z'' = 1.05 = BB |
As of November 01, 2026, the stock is trading at CAD 27.00 with a total of 585,095 shares traded. Over the past week, the price has changed by -0.02%, over one month by +1.66%, over three months by -7.17% and over the past year by +9.99%.
Current recommended Stop Loss: 26.10 (which is 3.3% or 2.5 ATR below the current price).
SmartCentres Real Estate has no consensus analysts rating.
P/E Trailing = 29.5217
P/E Forward = 13.459
P/S = 5.5786
P/B = 0.884
P/EG = 2.4872
Revenue TTM = 934.7m CAD
EBIT TTM = 362.4m CAD
EBITDA TTM = 370.4m CAD
Long Term Debt = 3.78b CAD (from longTermDebt, last quarter)
Short Term Debt = 1.48b CAD (from shortTermDebt, last quarter)
Debt = 5.26b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = 5.22b CAD (calculated: Debt 5.26b - CCE 44.9m)
Enterprise Value = 10.6b CAD (5.33b + Debt 5.26b - CCE 44.9m)
Interest Coverage Ratio = 2.00 (Ebit TTM 362.4m / Interest Expense TTM 181.0m)
EV/FCF = 27.05x (Enterprise Value 10.6b / FCF TTM 390.1m)
FCF Yield = 3.70% (FCF TTM 390.1m / Enterprise Value 10.6b)
FCF Margin = 41.73% (FCF TTM 390.1m / Revenue TTM 934.7m)
Net Margin = 16.81% (Net Income TTM 157.1m / Revenue TTM 934.7m)
Gross Margin = 61.17% ((Revenue TTM 934.7m - Cost of Revenue TTM 363.0m) / Revenue TTM)
Gross Margin QoQ = 60.36% (prev 59.39%)
Tobins Q-Ratio = 0.87 (Enterprise Value 10.6b / Total Assets 12.1b)
Interest Expense / Debt = 3.44% (Interest Expense 181.0m / Debt 5.26b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 271.8m (EBIT 362.4m * (1 - 25.00%))
Current Ratio = 0.26 (Total Current Assets 387.4m / Total Current Liabilities 1.48b)
Debt / Equity = 1.04 (Debt 5.26b / totalStockholderEquity, last quarter 5.08b)
Debt / EBITDA = 14.09 (Net Debt 5.22b / EBITDA 370.4m)
Debt / FCF = 13.38 (Net Debt 5.22b / FCF TTM 390.1m)
Total Stockholder Equity = 5.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.30% (Net Income 157.1m / Total Assets 12.1b)
RoE = 3.03% (Net Income TTM 157.1m / Total Stockholder Equity 5.19b)
RoCE = 4.04% (EBIT 362.4m / Capital Employed (Equity 5.19b + L.T.Debt 3.78b))
RoIC = 2.26% (NOPAT 271.8m / Invested Capital 12.0b)
WACC = 4.22% (E(5.33b)/V(10.6b) * Re(5.83%) + D(5.26b)/V(10.6b) * Rd(3.44%) * (1-Tc(0.25)))
Discount Rate = 5.83% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -14.91 | Cagr: 0.03%
[DCF] Terminal Value 75.58% ; FCFF base≈388.5m ; Y1≈393.5m ; Y5≈424.1m
[DCF] Fair Price = 9.43 (EV 6.58b - Net Debt 5.22b = Equity 1.37b / Shares 144.7m; r=8.35% [WACC [floored]]; 5y FCF grow 1.04% → 2.50% )
EPS Correlation: -47.42 | EPS CAGR: -17.70% | SUE: N/A | # QB: 0
Revenue Correlation: 85.89 | Revenue CAGR: 4.64% | SUE: -0.18 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=0.85 | Chg30d=-60.28% | Revisions=+25% | GrowthEPS=-50.2% | GrowthRev=-0.1%
EPS next Year (2027-12-31): EPS=1.98 | Chg30d=-1.00% | Revisions=-25% | GrowthEPS=+132.9% | GrowthRev=+3.1%