SmartCentres Real Estate Investment Trust
TSX:SRU.UN

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SmartCentres Real Estate Investment Trust Logo
SmartCentres Real Estate Investment Trust
TSX:SRU.UN
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Price: 25.38 CAD 0.79% Market Closed
Market Cap: 3.7B CAD
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Intrinsic Value

The intrinsic value of one SRU.UN stock under the Base Case scenario is 38.23 CAD. Compared to the current market price of 25.38 CAD, SmartCentres Real Estate Investment Trust is Undervalued by 34%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

SRU.UN Intrinsic Value
38.23 CAD
Undervaluation 34%
Intrinsic Value
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SmartCentres Real Estate Investment Trust

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

Economic Moat
SmartCentres Real Estate Investment Trust

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Financials
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Balance Sheet Decomposition
SmartCentres Real Estate Investment Trust

Current Assets 220.8m
Cash & Short-Term Investments 38.3m
Receivables 95.2m
Other Current Assets 87.3m
Non-Current Assets 11.7B
Long-Term Investments 11.3B
PP&E 11m
Intangibles 41.5m
Other Non-Current Assets 291.5m
Current Liabilities 1.1B
Accounts Payable 107.3m
Accrued Liabilities 67.7m
Other Current Liabilities 957.1m
Non-Current Liabilities 5.6B
Long-Term Debt 4.5B
Other Non-Current Liabilities 1.1B
Efficiency

Earnings Waterfall
SmartCentres Real Estate Investment Trust

Revenue
899.6m CAD
Cost of Revenue
-365.3m CAD
Gross Profit
534.4m CAD
Operating Expenses
-56.2m CAD
Operating Income
478.2m CAD
Other Expenses
-345.1m CAD
Net Income
133.1m CAD

Free Cash Flow Analysis
SmartCentres Real Estate Investment Trust

Last Value
3-Years Average
FCF Margin
Conversion Rate
Fundamental Scores

SRU.UN Profitability Score
Profitability Due Diligence

SmartCentres Real Estate Investment Trust's profitability score is 62/100. The higher the profitability score, the more profitable the company is.

62/100
Profitability
Score

SmartCentres Real Estate Investment Trust's profitability score is 62/100. The higher the profitability score, the more profitable the company is.

SRU.UN Solvency Score
Solvency Due Diligence

SmartCentres Real Estate Investment Trust's solvency score is 23/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Short-Term Solvency
Positive Net Debt
23/100
Solvency
Score

SmartCentres Real Estate Investment Trust's solvency score is 23/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

SRU.UN Price Targets Summary
SmartCentres Real Estate Investment Trust

Wall Street analysts forecast SRU.UN stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for SRU.UN is 27.22 CAD with a low forecast of 24.24 CAD and a high forecast of 30.45 CAD.

Lowest
Price Target
24.24 CAD
4% Downside
Average
Price Target
27.22 CAD
7% Upside
Highest
Price Target
30.45 CAD
20% Upside
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Dividends

Dividend Yield
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Dividend Per Share
N/A
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Growth 10Y
Dividend Safety Score
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0
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100
Shareholder Yield

Current shareholder yield for SRU.UN is .

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Profile

SmartCentres Real Estate Investment Trust Logo
SmartCentres Real Estate Investment Trust

Country

Canada

Industry

Real Estate

Market Cap

3.7B CAD

Dividend Yield

8.5%

Description

SmartCentres Real Estate Investment Trust is a fully integrated commercial and residential REITs, with its strategically located properties in communities across the country. 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 portfolio featuring approximately168 located properties. The firm's 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. The firm's Project 512 program consists of rental apartments, condos, seniors’ residences and hotels, to be developed under the SmartLiving banner; and retail, office, and storage facilities, to be developed under the SmartCentres banner.

Contact

ONTARIO
Vaughan
3200 Highway 7
+19053266400.0
www.smartcentres.com

IPO

1998-02-04

Employees

363

Officers

Executive Chairman & CEO
Mr. Mitchell Goldhar
Chief Financial Officer
Mr. Peter L. Slan CA
Executive Vice President of Portfolio Management & Investments
Mr. Rudy Gobin
Executive VP and Chief People & Culture Officer
Mr. Dan Markou
Vice President of Investor Relations
Hammad Rawra
Legal Counsel
Ms. Shea Nerland Calnan
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Executive Vice President of Development
Mr. Allan Scully
Director of Operations Accounting
Ms. Julia Mok
Senior Director of Property Management
Mr. Tom Bazinet
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See Also

Discover More
What is the Intrinsic Value of one SRU.UN stock?

The intrinsic value of one SRU.UN stock under the Base Case scenario is 38.23 CAD.

Is SRU.UN stock undervalued or overvalued?

Compared to the current market price of 25.38 CAD, SmartCentres Real Estate Investment Trust is Undervalued by 34%.

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