SmartCentres Real Estate Investment Trust

TSX:SRU.UN Stock Report

Market Cap: CA$4.2b

SmartCentres Real Estate Investment Trust Valuation

Is SRU.UN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SRU.UN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SRU.UN (CA$24.58) is trading below our estimate of fair value (CA$27.56)

Significantly Below Fair Value: SRU.UN is trading below fair value, but not by a significant amount.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for SRU.UN?

Other financial metrics that can be useful for relative valuation.

SRU.UN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue10.3x
Enterprise Value/EBITDA16.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does SRU.UN's PE Ratio compare to its peers?

The above table shows the PE ratio for SRU.UN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.6x
CHP.UN Choice Properties Real Estate Investment Trust
7.1xn/aCA$4.6b
FCR.UN First Capital Real Estate Investment Trust
10.8xn/aCA$3.7b
CRT.UN CT Real Estate Investment Trust
30.2xn/aCA$3.5b
REI.UN RioCan Real Estate Investment Trust
94.2x41.5%CA$5.6b
SRU.UN SmartCentres Real Estate Investment Trust
13xn/aCA$4.2b

Price-To-Earnings vs Peers: SRU.UN is good value based on its Price-To-Earnings Ratio (13x) compared to the peer average (39x).


Price to Earnings Ratio vs Industry

How does SRU.UN's PE Ratio compare vs other companies in the North American Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.4%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.4%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: SRU.UN is good value based on its Price-To-Earnings Ratio (13x) compared to the North American Retail REITs industry average (30.2x).


Price to Earnings Ratio vs Fair Ratio

What is SRU.UN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SRU.UN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SRU.UN's Price-To-Earnings Fair Ratio for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SRU.UN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$24.58
CA$26.19
+6.5%
3.9%CA$28.00CA$24.50n/a8
Oct ’25CA$26.69
CA$25.25
-5.4%
5.9%CA$28.00CA$23.50n/a8
Sep ’25CA$25.54
CA$25.00
-2.1%
6.0%CA$28.00CA$23.50n/a8
Aug ’25CA$23.83
CA$24.81
+4.1%
6.5%CA$28.00CA$23.50n/a8
Jul ’25CA$21.99
CA$24.81
+12.8%
6.5%CA$28.00CA$23.50n/a8
Jun ’25CA$22.36
CA$24.81
+11.0%
6.5%CA$28.00CA$23.50n/a8
May ’25CA$22.27
CA$25.53
+14.6%
8.3%CA$30.00CA$23.50n/a8
Apr ’25CA$23.00
CA$25.84
+12.4%
7.6%CA$30.00CA$24.00n/a8
Mar ’25CA$23.54
CA$26.16
+11.1%
6.8%CA$30.00CA$24.50n/a8
Feb ’25CA$24.89
CA$26.28
+5.6%
7.5%CA$30.00CA$24.00n/a8
Jan ’25CA$24.89
CA$26.03
+4.6%
8.1%CA$30.00CA$24.00n/a8
Dec ’24CA$23.71
CA$25.56
+7.8%
9.4%CA$30.00CA$23.00n/a8
Nov ’24CA$22.14
CA$27.21
+22.9%
11.5%CA$31.00CA$23.00CA$24.587
Oct ’24CA$22.76
CA$28.69
+26.0%
6.9%CA$31.00CA$26.00CA$26.698
Sep ’24CA$24.23
CA$28.81
+18.9%
6.4%CA$31.00CA$26.00CA$25.548
Aug ’24CA$25.02
CA$29.71
+18.8%
9.6%CA$33.50CA$25.50CA$23.837
Jul ’24CA$24.29
CA$30.50
+25.6%
6.2%CA$33.50CA$28.00CA$21.997
Jun ’24CA$25.11
CA$30.06
+19.7%
7.0%CA$33.50CA$27.00CA$22.368
May ’24CA$26.10
CA$30.44
+16.6%
7.4%CA$34.00CA$28.00CA$22.278
Apr ’24CA$26.57
CA$30.44
+14.6%
7.4%CA$34.00CA$28.00CA$23.008
Mar ’24CA$27.55
CA$30.57
+11.0%
7.8%CA$34.00CA$28.00CA$23.547
Feb ’24CA$28.28
CA$30.92
+9.3%
6.9%CA$34.00CA$28.00CA$24.896
Jan ’24CA$26.78
CA$30.31
+13.2%
7.0%CA$34.00CA$28.00CA$24.898
Dec ’23CA$27.55
CA$30.19
+9.6%
7.4%CA$34.00CA$28.00CA$23.718
Nov ’23CA$26.85
CA$30.61
+14.0%
8.3%CA$34.00CA$28.00CA$22.147

Analyst Forecast: Target price is less than 20% higher than the current share price.


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