Smart REIT (SRU.UN.TO) Buy, Sell or Hold

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Smart REIT (SRU.UN.TO)

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29.05

+0.11 (0.38%)

as of Jun 5, 2026, 8:00:00 pm Market Open.

395 watching

Investor Insights

Jun 5, 2026, 12:00 am

This summary was created by AI, based on 7 opinions in the last 12 months.

Smart REIT (SRU.UN) is viewed by experts as a solid investment primarily due to its strong fundamentals, including high-quality tenants like Walmart, which serves as its anchor. While the REIT is recognized for its defensive nature and reliable dividend yield—close to 7%—it faces challenges in terms of growth potential, with many experts predicting limited appreciation in stock value and rental income in the current economic climate. The CEO's management and decisions, such as building condos, are praised, yet concerns linger regarding high payout ratios and dependence on a single major tenant. Overall, the outlook suggests that while the REIT remains safe, investors may find better growth opportunities elsewhere, particularly in sectors less affected by high leverage and economic fluctuations.

Consensus

Neutral

Valuation

Fair Value

Similar

CT,CT.TO

BUY ON WEAKNESS

Unenclosed power centres and anchored by Wal-Mart. This is a great core holding for a portfolio. Try to buy closer to $20.

TOP PICK

(A Top Pick Apr 29/09. Up 113.8%.) Has a huge advantage of access to Wal-Mart through its Smart Centres. Have gradually brought their balance sheet into better order. 7.5% yield. He treats it as a trading vehicle.

HOLD

The anchor to most of the Wal-Marts in Canada. Had some financial issues but with the opening of finances, they have recovered. Thinks the distribution is sustainable. Strong tenants and strong properties. Not his favourite story.

PAST TOP PICK

(A Top Pick Apr 29/09. Up 98.6% excluding yield.) He sold off too early. Very good retail entity with some of the best performance this year. Could be a little overpriced right now but still could be a buy.

HOLD

Unenclosed power centres, primarily anchored by Wal-Mart. If you are an income investor, this delivers a very steady stream. If interest rates start going up he would expect all REITs and risky assets to pull back.

BUY

Distributing 100% of their cash flow but thinks they will sustain the distribution. Expects it to continue as a REIT rather than converting. Solid, long-term holding.

DON'T BUY

P/E is sky high. His FMV calculation is substantially below current price. Trading at 89X forward earnings and would be happier with 15X. 7.8% yield.

PAST TOP PICK

(A Top Pick Dec 5/08. Up 136%.) Retail oriented. Defensive. Trading in line with its NAV, so not overly expensive. Hold. 8.3% yield.

BUY

REITs are exempt from having to change to corps in 2011. There has been a good recovery in the sector. Amount of leverage they can use going forward will probably be limited and real estate in general depends on leverage. Reasonably valued and growth will depend on the growth of their tenants, primarily Wal-Mart. Thinks 12.9% distribution can be maintained until 2011 and then gradually increases.

BUY ON WEAKNESS

Had been beaten up because of a concern on financing. Have done a great job in addressing this. Fairly priced and probably at a slight premium to NAV. You might try to get in at $15 or lower if the market has a correction over the next couple of months.

DON'T BUY

Recently sold this on a rally. They always need money. Have fixed some of their cash demand problems but at a very expensive rate. Wal-Mart is their core. He thinks they are paying out about 120% of what they are earning.

BUY

(Market Call Minute.) Financing is lower for the REIT space so it is cheaper.

TOP PICK

(A Top Pick Aug 13/08. Down 25.67%.) Potentially has a $1 billion development pipeline with concerns on whether it is accretive or not. Payout ratio of 100% is questionable. 27% of tenants are Wal-Mart. Average age of property is about 7 years.

BUY

Largely in Ontario. Main tenant is Wal-Mart. They were counting on expansion and new development when money became tight and they were short. This hurt them a lot. Recently did a debt issue at 10% and another one at 8%. Seem to have taken care of their debt needs. 12% yield is probably quite safe.

COMMENT

Owns a lot of trusts but not REITs. The REIT sector is not screening well.

Showing 151 to 165 of 254 entries

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Smart REIT (SRU.UN.TO)