SmartCentres Real Estate Investment Trust is one of Canada’s largest fully integrated REITs, with a best-in-class portfolio featuring 157 strategically located properties in communities across the country.
6 star dividend payer and undervalued.
Share Price & News
How has SmartCentres Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CWYU.F's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: CWYU.F underperformed the US REITs industry which returned -7.2% over the past year.
Return vs Market: CWYU.F underperformed the US Market which returned 8.9% over the past year.
Price Volatility Vs. Market
How volatile is SmartCentres Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is SmartCentres Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CWYU.F ($16.45) is trading below our estimate of fair value ($30.4)
Significantly Below Fair Value: CWYU.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CWYU.F is good value based on its PE Ratio (10.7x) compared to the REITs industry average (29.6x).
PE vs Market: CWYU.F is good value based on its PE Ratio (10.7x) compared to the US market (16.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CWYU.F's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CWYU.F is good value based on its PB Ratio (0.7x) compared to the US REITs industry average (1.5x).
How is SmartCentres Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if CWYU.F's forecast earnings growth is above the savings rate (2.2%).
Earnings vs Market: Insufficient data to determine if CWYU.F's earnings are forecast to grow faster than the US market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CWYU.F's revenue is expected to decline over the next 3 years (-0.9% per year).
High Growth Revenue: CWYU.F's revenue is forecast to decline over the next 3 years (-0.9% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CWYU.F's Return on Equity is forecast to be high in 3 years time
How has SmartCentres Real Estate Investment Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CWYU.F has high quality earnings.
Growing Profit Margin: CWYU.F's current net profit margins (36.3%) are lower than last year (38.9%).
Past Earnings Growth Analysis
Earnings Trend: CWYU.F's earnings have grown by 4.9% per year over the past 5 years.
Accelerating Growth: CWYU.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CWYU.F had negative earnings growth (-5.3%) over the past year, making it difficult to compare to the REITs industry average (5.2%).
Return on Equity
High ROE: CWYU.F's Return on Equity (6.7%) is considered low.
How is SmartCentres Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: CWYU.F's short term assets (CA$528.7M) do not cover its short term liabilities (CA$846.0M).
Long Term Liabilities: CWYU.F's short term assets (CA$528.7M) do not cover its long term liabilities (CA$4.2B).
Debt to Equity History and Analysis
Debt Level: CWYU.F's debt to equity ratio (88.5%) is considered high.
Reducing Debt: CWYU.F's debt to equity ratio has increased from 78.5% to 88.5% over the past 5 years.
Debt Coverage: CWYU.F's debt is not well covered by operating cash flow (7.8%).
Interest Coverage: CWYU.F's interest payments on its debt are well covered by EBIT (3.3x coverage).
What is SmartCentres Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CWYU.F's dividend (8.33%) is higher than the bottom 25% of dividend payers in the US market (1.62%).
High Dividend: CWYU.F's dividend (8.33%) is in the top 25% of dividend payers in the US market (4.32%)
Stability and Growth of Payments
Stable Dividend: CWYU.F's dividends per share have been stable in the past 10 years.
Growing Dividend: CWYU.F's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (51.5%), CWYU.F's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CWYU.F's dividends in 3 years are forecast to be thoroughly covered by earnings (0.5% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Peter Forde (64yo)
Mr. Peter Forde, CPA, CA, has been the President of SmartCentres Real Estate Investment Trust since August 2016 and its Chief Executive Officer since July 01, 2018 and its Trustee since May 31, 2019. Mr. F ...
CEO Compensation Analysis
Compensation vs Market: Peter's total compensation ($USD1.11M) is below average for companies of similar size in the US market ($USD5.84M).
Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.
|Chief Financial Officer||5.58yrs||CA$1.10m||no data|
|Executive Vice President of Portfolio Management & Investments||5yrs||CA$915.90k||0.014% CA$374.1k|
|Chief Development Officer||5.08yrs||CA$1.03m||0.0035% CA$93.6k|
|Legal Counsel||no data||no data||no data|
|Senior Vice President of Human Resources & Corporate Services||5yrs||no data||no data|
|Director of Asset Management||no data||no data||no data|
|Executive Vice President of Development||3yrs||no data||no data|
|Executive Vice President of Development||5.08yrs||no data||no data|
|Director of Operations Accounting||no data||no data||no data|
Experienced Management: CWYU.F's management team is seasoned and experienced (5 years average tenure).
|Lead Independent Trustee||5.08yrs||CA$400.00k||0.12% CA$3.3m|
|Independent Trustee||18.5yrs||CA$333.00k||0.014% CA$374.1k|
|Independent Trustee||18.5yrs||CA$274.00k||0.019% CA$509.9k|
|President of the Council||5.08yrs||CA$962.09k||9.95% CA$269.2m|
|Independent Trustee||4.92yrs||CA$158.00k||0.0010% CA$28.1k|
|Independent Trustee||7.08yrs||CA$371.00k||0.00055% CA$14.9k|
|Independent Trustee||1.08yrs||no data||no data|
Experienced Board: CWYU.F's board of directors are considered experienced (5.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CWYU.F insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
SmartCentres Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
- Name: SmartCentres Real Estate Investment Trust
- Ticker: CWYU.F
- Exchange: OTCPK
- Founded: 1945
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: CA$3.657b
- Market Cap: CA$2.374b
- Listing Market Cap: CA$2.705b
- Shares outstanding: 171.87m
- Website: https://www.smartcentres.com
Number of Employees
- SmartCentres Real Estate Investment Trust
- 3200 Highway 7
- L4K 5Z5
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SRU.UN||TSX (The Toronto Stock Exchange)||Yes||Trust Units||CA||CAD||Feb 1998|
|CWYU.F||OTCPK (Pink Sheets LLC)||Yes||Trust Units||US||USD||Feb 1998|
SmartCentres Real Estate Investment Trust is one of Canada’s largest fully integrated REITs, with a best-in-class portfolio featuring 157 strategically located properties in communities across the country. SmartCentres has $10.4 billion in assets and owns 34.1 million square feet of income producing value-oriented retail space with 98% occupancy, on 3,500 acres of owned land across Canada. SmartCentres continues to focus on enhancing the lives of Canadians by planning and developing complete, connected, mixed-use communities on its existing retail properties. A publicly announced $12.1 billion intensification program ($5.5 billion at SmartCentres' share) represents the REIT’s current major development focus. This intensification program consists of rental apartments, condos, seniors’ residences and hotels, to be developed under the SmartLiving banner, and retail, office, and storage facilities, to be developed under the SmartCentres banner. SmartCentres' intensification program is expected to produce an additional 27.9 million square feet of space; all construction commencing within the next five years, 12.4 million square feet of which is already underway. From shopping centres to city centres, SmartCentres is uniquely positioned to reshape the Canadian urban and urban-suburban landscape.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/06/05 04:34|
|End of Day Share Price||2020/06/04 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.