TSX:SRU.UNRetail REITs
SmartCentres (TSX:SRU.UN) Profit Squeeze Clouds Steady Income Story
SmartCentres Real Estate Investment Trust came into this earnings release with a soft patch in the rear-view mirror. The unit price is down about 2.6% over the past week and roughly 5.6% over the past month, even after closing at CA$28.77 on 7 August. The headline from Q2 is not about rental income or occupancy. It is the sharp profit squeeze, with a reported loss of CA$119.4m tied to fair value hits and a flat quarter for Funds From Operations per unit, that now tests the long-held income...