SmartCentres REIT's Q2 net rental income rises on strong leasing demand, high occupancy

SmartCentres Real Estate Investment Trust

07/08/2025 22:21

Overview

SmartCentres Q2 2025 net rental income rises 6.1% yr/yr

FFO per unit increases to C$0.58, driven by lease-up activities

Net income falls C$19.7 mln due to reduced fair value gains

Company highlights strong leasing demand and high occupancy rates

Outlook

Company expects long-term growth from 58.9 mln sq ft development pipeline

SmartCentres anticipates openings of Pacific Fresh and Costco later this year

Result Drivers

LEASING DEMAND - Occupancy improved to 98.6% with 148,000 sq. ft. leased, rent growth of 8.5% excluding anchors

NOI INCREASE - Same Properties NOI rose 4.8% due to improved customer traffic and strengthened tenant base

DEVELOPMENT PIPELINE - Completion of self-storage projects and townhomes contributed positively to results

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 FFO Per Share
C$0.58


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$27.00, about 4.9% above its August 6 closing price of C$25.69

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBw3J6sbXa

(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.)