SmartCentres Real Estate Investment Trust SRU.UN.TO · CAD
Real Estate · Toronto Stock Exchange · 🇨🇦 Canada
27.43
-0.90%
Close of 9 Nov 2026, in CAD
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About SmartCentres Real Estate Investment Trust
Its shares trade on Toronto Stock Exchange under the ticker SRU.UN.TO. It has been listed since 4 February 1998. In the fiscal year to 31 December 2025, it reported revenue of C$913.9m and net income of C$251.8m. At that date it held total assets of C$12.14bn and shareholders' equity of C$5.23bn.
SmartCentres Real Estate Investment Trust is an open-ended mutual fund trust. The company is headquartered in Vaughan, Ontario. The Trust develops, leases, constructs, owns and manages shopping centers, office buildings, high-rise and low-rise condominium and rental residences, seniors’ housing, town house units, and self-storage rental facilities in Canada. Its subsidiaries include Smart Limited Partnership, Smart Limited Partnership II, Smart Limited Partnership III, Smart Limited Partnership IV, Smart Oshawa South Limited Partnership, Smart Oshawa Taunton Limited Partnership, Smart Boxgrove Limited Partnership, ONR Limited Partnership and ONR Limited Partnership I.
Figures and description from our data supplier, not checked against the company's own report.
Company facts
- Sector
- Real Estate
- Industry
- Equity Real Estate Investment Trusts (REITs)
- Listed since
- 4 Feb 1998
- Employees
- 342
- Website
- smartcentres.com ↗
Leadership
Pay as last reported
- Mr. Mitchell GoldharExecutive Chairman of the Board of Trustees, Chief Executive Officer, since 2005C$1.5m
- Mr. Peter SlanChief Financial OfficerC$1.0m
- Mr. Dan MarkouExecutive Vice President & Chief People and Culture OfficerC$1.1m
- Ms. Paula BustardExecutive Vice President - DevelopmentC$857,077
- Mr. Rudy GobinExecutive Vice President - Portfolio Management and InvestmentsC$1.2m
- Mr. Allan ScullyExecutive Vice President - Development
- Mr. Michael YoungLead Independent Trustee, since 2003C$317,000
- Ms. Janet BannisterIndependent TrusteeC$202,000
- Mr. Garry FosterIndependent TrusteeC$242,000
- Mrs. Sylvie LachanceIndependent TrusteeC$182,000
- Ms. Sharm PowellIndependent TrusteeC$228,000
- Mr. Neil CunninghamTrusteeC$103,814
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 56
- Environment
- 66
- Social
- 47
- Governance
- 54
- Direct emissions (scope 1)
- 5,452 t
- Energy emissions (scope 2)
- 2,997 t
- Value chain emissions (scope 3)
- 47,151 t
- Women in the workforce
- 51%
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- SmartCentres Real Estate Investment Trust (REIT) has several key strengths that contribute to its success:
- SmartCentres REIT holds a diversified portfolio of high-quality retail, office, and mixed-use properties across Canada. This diversity reduces risk and provides stable cash flows.
- The REIT benefits from long-term lease agreements with reputable tenants, ensuring consistent rental income. These agreements serve as a valuable asset and contribute to financial stability.
- SmartCentres REIT has established strategic partnerships with major retailers, such as Walmart, to develop and operate integrated retail centers. These partnerships enhance the REIT's competitive edge and attract high-profile tenants.
Weaknesses
- Despite its strengths, SmartCentres REIT faces certain weaknesses:
- The REIT has a significant exposure to the retail sector, making it vulnerable to changes in consumer behavior and economic downturns. This concentration increases risk and limits diversification opportunities.
- A substantial portion of SmartCentres REIT's portfolio comprises properties in specific geographic regions, leading to concentration risk. Any adverse events or market conditions affecting these regions can negatively impact the REIT's financial performance.
- The REIT relies heavily on a few major tenants, especially Walmart, which accounts for a significant portion of its rental income. The loss of such tenants or their inability to meet lease obligations could have a detrimental effect on the REIT's financial stability.
Opportunities
- SmartCentres REIT can leverage various opportunities to improve its position:
- The REIT can capitalize on the growing demand for mixed-use properties by expanding and developing new projects in strategic locations. This presents an opportunity for revenue growth and increased market presence.
- SmartCentres REIT can adapt to the rising popularity of e-commerce by repurposing existing properties to accommodate last-mile distribution centers or supporting e-commerce retailers. This can help mitigate the negative effects of online shopping on traditional retail spaces.
- The REIT can explore sustainable development initiatives, such as incorporating green building practices and renewable energy sources into its properties. This can attract environmentally conscious tenants and investors while reducing long-term operating costs.
Threats
- SmartCentres REIT faces certain threats that may impact its performance:
- The REIT is exposed to economic downturns and fluctuations in interest rates, which can affect tenant businesses and their ability to meet lease obligations. Economic uncertainties can also impact consumer spending, leading to vacant spaces and reduced rental income.
- Changes in government regulations, zoning laws, or environmental policies can impact the REIT's development plans, increase compliance costs, or restrict certain operations. Keeping up with regulatory requirements is critical to avoid legal and financial challenges.
- The real estate industry is highly competitive, and SmartCentres REIT faces competition from other REITs, property developers, and retail space providers. Aggressive pricing strategies or the entrance of new market players can impact occupancy rates and rental rates.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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