SmartCentres Real Estate Investment Trust Reports Earnings, Surpasses Estimates

SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF - Get Free Report) announced its quarterly earnings on Wednesday. The company reported earnings per share (EPS) of $0.40, exceeding analysts' expectations of $0.39 by $0.01. This positive performance highlights a net margin of 17.26% and a return on equity of 2.46%.

Stock Performance Overview

During midday trading on Wednesday, CWYUF stock decreased by $0.09, reaching a price of $17.29. A total of 16,447 shares changed hands, compared to the average trading volume of 22,834 shares. The stock has a 50-day simple moving average of $17.24 and a 200-day simple moving average of $18.05. Additionally, the firm reflects a quick ratio of 0.39, a current ratio of 0.39, and a debt-to-equity ratio of 0.71, showcasing its financial health. SmartCentres has recorded a one-year low of $15.82 and a high of $20.23. The company holds a market capitalization of approximately $3.08 billion and possesses a price-to-earnings ratio of 26.20 alongside a beta of 1.17.

Dividend Announcement

In a recent announcement, SmartCentres declared a dividend set to be paid on Monday, February 17th. Shareholders on record as of Monday, February 3rd, will receive a dividend payout of $0.1071, which equates to a dividend yield of 7.63%. The ex-dividend date is scheduled for Friday, January 31st. Currently, SmartCentres Real Estate Investment Trust’s payout ratio stands at 192.42%, which indicates a considerable distribution of earnings to shareholders.

Analyst Ratings Changes

On a separate note, TD Securities has recently upgraded SmartCentres Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating, as stated in an analyst note dated November 19th.

About SmartCentres Real Estate Investment Trust

SmartCentres is recognized as one of Canada’s largest fully integrated Real Estate Investment Trusts (REITs). The organization boasts a robust and expanding portfolio of mixed-use properties, comprising 191 strategically located sites throughout the country. SmartCentres manages around $12.0 billion in assets, owning approximately 35 million square feet of retail and top-tier office properties, maintaining an occupancy rate of 98.5% across its 3,500 acres of land in Canada.

Earnings, Stock, Investment