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SmartCentres Real Estate Investment Trust (T:SRU.UN)

Business Focus: Retail REITs

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Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 1700-715 5 Ave SW
Tel: 1-905-3266400
IR: See website
Key People
Mitchell Goldhar
Chairman of the Board of Trustees
Peter Forde
President, Chief Operating Officer
Huw Thomas
Chief Executive Officer, Trustee
Peter E. Sweeney
Chief Financial Officer
Stephen Champion
Executive Vice President - Development
Rudy Gobin
Executive Vice President - Portfolio Management and Investments
Mauro Pambianchi
Chief Development Officer
Business Overview
SmartCentres Real Estate Investment Trust, formerly Smart REIT, is a Canada-based real estate investment trust. The Company owns and manages approximately 30 million square feet in value-oriented, principally Walmart-anchored retail centers, having national and regional retailers as well as neighborhood merchants. In addition, the Company is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group. SmartCentres Real Estate Investment Trust's portfolio also includes: residential properties, such as single-family, condominium and rental; retirement homes; office, as well as self-storage, either on its urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centers.
Financial Overview
For the six months ended 30 June 2019, SmartCentres Real Estate Investment Trst revenues increased 2% to C$403.2M. Net income decreased 13% to C$147M. Revenues reflect Base rent increase of 1% to C$251.6M, Property operating costs recovered increase of 6% to C$42.6M. Net income was offset by Fair value adjustment on revaluation of decrease of 49% to C$12.9M (income).
Employees: 337 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $8,763M as of Jun 30, 2019
Annual revenue (TTM): $797.36M as of Jun 30, 2019
EBITDA (TTM): $476.49M as of Jun 30, 2019
Net annual income (TTM): $312.08M as of Jun 30, 2019
Free cash flow (TTM): $153.20M as of Jun 30, 2019
Net Debt Last Fiscal Year: $4,002M as of Jun 30, 2019
Shares outstanding: 168,203,626 as of Aug 19, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization