Canada's SmartCentres REIT Q3 net rental income falls on lower residential sales

SmartCentres Real Estate Investment Trust

12/11/2025 22:22

Overview

SmartCentres Q3 net rental income decreases 0.5% yr/yr to C$141.3 mln, affected by lower residential sales

FFO per Unit for Q3 2025 declines to C$0.59 from C$0.71 in 2024

Outlook

SmartCentres expects continued rental growth for the remainder of 2025

Two self-storage facilities in Quebec expected to open in 2026

Result Drivers

LEASE RENEWALS - Co reports strong lease renewal performance with rental growth of 8.4% excluding anchors

HIGH OCCUPANCY - In-place and committed occupancy rate remains steady at 98.6%

DEVELOPMENT PIPELINE - Co expands development pipeline with new self-storage facilities and residential projects

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted FFO Per Share
C$0.56
Q3 FFO Per Share
C$0.59


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy."

Wall Street's median 12-month price target for SmartCentres Real Estate Investment Trust is C$27.50, about 2.6% above its November 11 closing price of C$26.78

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nBw5dm81wa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)