Q4 2025 SmartCentres Real Estate Investment Trust Earnings Call Transcript

Feb 12, 2026 / 08:00 PM GMT

Release Date Price: €16.35 (-0.44%)

Transcript

Key Points

Positve

SmartCentres Real Estate Investment Trust (CWYUF) reported strong same property NOI growth of 3.7% for the year, with 5.6% growth excluding anchors.
The company maintained a high occupancy rate of 98.6% at year-end, demonstrating strong tenant demand.
SmartCentres has over $1 billion in liquidity and 90% of its debt is fixed rate, providing financial stability.
The company is expanding its retail sites with new developments and has an unencumbered asset pool of $10 billion.
SmartCentres is advancing ESG initiatives, including decarbonization planning and cybersecurity improvements.

Negative

The company faces challenges with Toys R Us filing for credit protection, impacting some of its retail spaces.
Adjusted debt to adjusted EBITDA increased to 9.7 times in Q4, indicating higher leverage.
The weighted average term to maturity of debt is relatively short at 3.4 years, which may pose refinancing risks.
There is uncertainty in the market for capital recycling and dispositions, affecting potential asset sales.
The payout ratio to AFFO is high at 89.2%, which may limit financial flexibility for future investments.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SRU_u.TO - SmartCentres Real Estate Investment Trust
Q4 2025 SmartCentres Real Estate Investment Trust Earnings Call
Feb 12, 2026 / 08:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good day ladies and gentlemen. Welcome to the Smart Centers reach Q4 2025 conference call. I would like to introduce Mr. Peter Slan. Please go ahead.

--------------------------------------------------------------------------------
Unidentified_2 [2]
--------------------------------------------------------------------------------
Good afternoon and welcome to Smart Center's 4th quarter and full year 2025 results call. I'm Peter Slam, Chief Financial Officer, and I'm joined on today's call by Mitch Goldhar, executive Chair and CEO, and by Rudy Gobin, our executive Vice President, Portfolio Management and Investments.

We will begin today's call with comments from

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.