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

COMMENT

Very highly thought of by everybody. They work with smart centres that rent to Wal-Mart. They locate land and sell it. Just did a fairly big acquisition that will require about $200 million to build it out. Largely in Eastern Canada where the economy is a bit slower. Cost of capital is higher. He questions if they will get the growth out of this.

TOP PICK

Has a 15% discount to NAV. Just over 7% cash flow yield. Stable portfolio of unenclosed retail, mostly anchored by Wal-Mart. Will probably be the largest REIT in Canada in 2 years time. Tremendous value.

COMMENT

Looking at Riocan (REI.UN-T), Primaris (PMZ.UN-T), H&R (HR.UN-T) and Calloway (CWT.UN-T). Have been pretty well beaten up and the yields are looking very enticing. As an inflation hedge they look very attractive.

TOP PICK

Have a lot of Wal-Mart anchoring their properties and have done a very good job of managing. If there is a slowdown in Canada, shoppers tend to trade down so Wal-Mart will not be as heavily impacted. NAV is around $27, so there is a 14%-15% discount.

COMMENT

Unenclosed power centres across Canada, anchored overwhelmingly by Wal-Mart. Just announced a purchase of $680 million of retail properties. Payout ratio is about 102%. The yield is very safe. Trading at about a 15% discount to NAV.

TOP PICK

Basically a retail focused REIT with 25% of annual rents coming from Wal-Mart. High-quality leases with 92% of properties constructed after 1995. Near-term organic growth is limited but the development pipeline is second to none. Cheap at 17% of NAV.

HOLD

The REIT market has had a really bad year. Anchors are almost all Wal-Mart. Thinks REITs will either be flat or start going up in value. The only issue is that it will be hard for them to grow by buying property.

TOP PICK

REIT sector is very beaten up. Trades at a significant discount to its Net Asset Value. On a free cash flow basis it is trading at about 14 times. Very solid numbers. About 99% occupancy. Wal-Mart is about 27% of their leases. Good development pipeline.

PAST TOP PICK

One that the street always seems to like. Has good shopping centers all across the east. Has smart centres where they team up with Walmart. They are watching them now.

TOP PICK

One that the street always seems to like. Has good shopping centers all across the east. Has smart centres where they team up with Walmart. They are watching them now.

TOP PICK

The REIT sector should give you pretty stable returns. Focused on the un-enclosed retail area with Wal-Mart being their main tenant. Undervalued.

TOP PICK

Likes real estate in Canada. REITs have declined significantly, but represent tremendous value. NAV is about $28/$30. Owns one of the best retail portfolios in Canada and they are the predominant landlord for Wal-Mart.

TOP PICK

Owns unenclosed power centres throughout Canada. Tend to follow Wal-Mart around. In 2 years, this will be the largest REIT in Canada. A good quality core name. Trading at a discount to its NAV. Good cash flow yield.

BUY

A retail focused REIT. Almost a play on Wal-Mart expansion in Canada. A little bit of development upside. Not a lot of rental rate increases. Trades at a bit of a discount.

TOP PICK

Just hit a 52 week low. Yield is 6% plus. Looking for 5%-7% growth on a steady basis. 27% of its money comes from Wal-Mart, who is expected to add 10 to 20 stories in Canada over the next 5 years. Trading at a 10% discount to their NAV.

Showing 196 to 210 of 254 entries

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Smart REIT (SRU.UN.TO)