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

DON'T BUY

Doesn’t see any drivers of growth in REIT space. Just did a 5-year lending agreement for over 10%.

TOP PICK

Quite responsible with it’s payout ratio of about 97%. Its debt is reasonable. Table portfolio of shopping centers. Very good yield and will almost certainly maintain the yield.

PAST TOP PICK

(Top Pick Apr 16/08, Down 42.17%) Have pushed aside some of their refinancing risk. Buy.

PAST TOP PICK

(Top Pick Apr 08/08 Down 44%) Buy it for the quality of the company, the fact that you are the Walmart landlord in Canada. Not much downside. Would buy for company and not for dividend.

DON'T BUY

Has a little bit more balance sheet concern with this one compared to RioCan (REI.UN-T). Prefers RioCan. 15% yield

BUY

REITs are exempt from the 2011 government ruling. This is one of the more stable REITs. Retail oriented and their biggest tenant is Wal-Mart. Their biggest challenge is on the financing front and what have to work hard to manage their maturity and debt schedules. Reasonably comfortable that they will be able to do this.

BUY

Payout ratio of about 96% to 30% of their cash flow comes from Wal-Mart, which is in expansion mode in Canada. Expect them to do well relative to their peers. Would Buy under $10 and Sell at $13 or better, their trading range.

BUY

Big concern is their retail-based REITs. Have a huge development pipeline this year and next and the market is concerned with their ability to finance the equity component of it but he is comfortable they will be able to source this. In a trading range, so Buy at $11.50 or less and Sell at anything above the $13-$14 range.

PAST TOP PICK

(A Top Pick Feb 6/08. Down 47%.) Their tenant Wal-Mart is one of the strongest retail names in North America and he was surprised that this has not done better. Still a Buy.

PAST TOP PICK

(A Top Pick Nov 28/07. Down 43.8%.) Has been hit a little harder than some of the other REITs because of concern over their financing and liquidity position. Late 2008 they addressed the concerns and she feels it is manageable. Very attractive at this price.

WATCH

All REITs have come off but have been rallying a little. If you think retail sales are going to be terrible in 09 and will continue, he would be wary. But if you think stimulus efforts will help sales in Canada, it is pretty attractive at this price. 12.8% yield. Wait a quarter.

PAST TOP PICK

(A Top Pick Nov 8/07. Down 41.8%.) Very stable shopping centre REIT. Have been selling some assets to fund acquisitions. Wal-Mart represents about 28% of their rents. Still likes.

PAST TOP PICK

(A Top Pick Dec 27/07. Down 42%.) 12% yield is safe. Wal-Mart is the anchor for the bulk of their malls. Still very well positioned. Still a Buy.

BUY

Concerned earlier this quarter, due to their need to finance their development pipeline. Talked with them and feels confident that they will be able to finance their scaled back pipeline and maintain their distribution.

TOP PICK

Retail space. #1 tenant is Wal-Mart. Little more defensive holding. Big overhang is a development pipeline that needs funding over the next several years. For the next couple of years it is very manageable. Almost 18% yield. Risk/reward is quite attractive.

Showing 166 to 180 of 254 entries

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Smart REIT (SRU.UN.TO)