The earnings call highlighted strong operational performance with significant growth in NOI and high occupancy rates across sectors. Financial metrics showed improvement, and development projects are progressing well. However, there are some challenges in the disposition market and debt levels have increased slightly. Overall, the sentiment is largely positive with some concerns that are being actively managed.

Company Guidance -

Q3 2025

In the SmartCentres REIT Q2 2025 conference call, a series of key metrics highlighted the company's robust performance across various sectors. The call reported a same-property net operating income (NOI) growth of 4.8% overall, with a more impressive 7.7% growth excluding anchors. Leasing spreads showed a positive trend at 6.1% overall, or 8.5% excluding anchors, while the occupancy rate for in-place and executed deals stood at 98.6%. The company successfully extended 82% of its 2025 lease maturities and achieved a reduced payout ratio of 89.4%. Rent collections exceeded 99%, indicating strong tenant reliability. The quarter also saw significant developments with Costco taking possession of a large premises and Walmart proceeding with its fixturing for a new store opening. SmartCentres holds approximately $1.2 billion in liquidity, with 89% of its debt at a fixed rate, showcasing a solid financial position. These metrics underline the company's strategic focus on value and convenience in retail, supported by a diverse portfolio and ongoing development projects.

Strong Same-Property NOI Growth

Same-property NOI growth was 4.8% overall and 7.7% excluding anchors, reflecting robust performance across retail, industrial, residential, storage, and office sectors.

High Occupancy and Lease Extension Rates

82% of 2025 lease maturities have been extended, with a 98.6% occupancy rate for in-place and executed deals. Positive leasing spreads were 6.1% overall and 8.5% excluding anchors.

Financial Performance and Liquidity

Net operating income increased by $10.2 million or 7.3%. FFO per fully diluted unit rose from $0.50 to $0.58. The company has approximately $1.2 billion in liquidity, with 89% of debt at a fixed rate.

Development Progress

Active developments include the 340-unit ArtWalk condo project (93% presold) and the 458-unit Millway apartment (97.8% leased). Three new SmartStop self-storage facilities opened, adding to a total of 14.

ESG Initiatives

Submitted GRESB Report and published annual ESG Report. Progressing on a 3-year plan including training, materiality assessments, and net-zero framework.

SmartCentres Real Estate Investment Trust (TSE:SRU.UN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:SRU.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2025 (Q3)	- / -	0.23	―	―	―
Aug 07, 2025	2025 (Q2)	- / 0.61	0.72	-15.28% (-0.11)	―	―
May 07, 2025	2025 (Q1)	- / -0.05	-0.12	58.33% (+0.07)	―	―
Feb 12, 2025	2024 (Q4)	- / 0.78	0.08	875.00% (+0.70)	―	―
Nov 13, 2024	2024 (Q3)	- / 0.23	1.19	-80.67% (-0.96)	―	―
Aug 08, 2024	2024 (Q2)	- / 0.72	0.94	-23.40% (-0.22)	―	―
May 08, 2024	2024 (Q1)	- / -0.12	0.63	-119.05% (-0.75)	―	―
Feb 14, 2024	2023 (Q4)	- / 0.08	0.49	-83.67% (-0.41)	―	―
Nov 08, 2023	2023 (Q3)	- / 1.19	0.47	153.19% (+0.72)	―	―
Aug 09, 2023	2023 (Q2)	- / 0.94	0.5	88.00% (+0.44)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:SRU.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	C$25.75	C$25.88	+0.50%
May 07, 2025	C$25.12	C$24.92	-0.80%
Feb 12, 2025	C$23.71	C$24.39	+2.87%
Nov 13, 2024	C$23.64	C$23.64	0.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does SmartCentres Real Estate Investment Trust (TSE:SRU.UN) report earnings?

SmartCentres Real Estate Investment Trust (TSE:SRU.UN) is schdueled to report earning on Nov 07, 2025, TBA (Confirmed).

What is SmartCentres Real Estate Investment Trust (TSE:SRU.UN) earnings time?

SmartCentres Real Estate Investment Trust (TSE:SRU.UN) earnings time is at Nov 07, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

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What is TSE:SRU.UN EPS forecast?

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