Market dataIncome framework read
REITTSXCanada

SRU-UN.TO

SmartCentres REIT

Real EstateREIT distributionMonthly

Market Snapshot

$28.22

+$0.07 (24.87%)

Toronto

Yield

6.57%

Rate $1.85

Next Payment

—

Ex-date 2026-08-31

52wk Position

54.50%

-8.67% below high

Updated —

Income Intelligence Summary

Deterministic interpretation from Prospyr's income framework and available market data.

Framework readout
1

Income reliability

Derived from payout history

Monthly income profile is visible

SRU-UN.TO has an income profile aligned with its reit role. Provider data shows 12 recent payout records.

2

DRIP defense

Editorial framework

Default DRIP test is not defended

SRU-UN.TO does not cover one full share per payment at the default 100-share test. Coverage is 0.55.

3

Main watch item

Editorial framework

Tax character and account placement matter

SRU-UN.TO is a REIT-style holding. The headline distribution can mix income, capital gains, and return of capital, so taxable-account reporting and account placement deserve attention.

Decision Area

Distribution and DRIP Defense

Payout history, default DRIP coverage, and price creep pressure using market data where available.

Distribution Chart

Last 12 payments

Confirmed Expected

Coverage Ratio Test

DRIP defense check

Failed
Cash
$15.42
APR
0.546
Coverage
0.546

Rung failed. Restore immediately or rebalance the holding.

Price Creep

Defended price ceiling

Max defended
$15.42
Cushion
-$12.80
Cushion %
-45.37%
Current $28.22Break $15.42

Smart Recommendation

SRU-UN.TO is not defended at these inputs; top up shares, lower TPR, or test alternatives.

Research Signals

Payout sustainability

Moderate

3mo ago

DRIP availability

Available

3mo ago

Tax character

Distribution / ROC

3mo ago

Distribution history

Multi-decade

3mo ago

Structure complexity

Moderate

3mo ago

Income trend

Stable

3mo ago

Account suitability

RRSP / RRIF optimal

3mo ago

Structure Overview

SmartCentres REIT (SRU.UN) owns a large portfolio of Walmart-anchored retail properties across Canada and is expanding into mixed-use development. Walmart's anchor presence has historically provided exceptional foot traffic and tenant stability. SmartCentres' development pipeline introduces execution risk that pure-retail REITs do not carry.

Canadian Planning Notes

  • 1SRU.UN's Walmart anchor relationship is structurally similar to CHP.UN's Loblaw relationship; verify the proportion of Walmart-tenanted GLA and Walmart's strategic retail commitment in Canada.
  • 2Distributions include ROC; RRSP or RRIF placement is tax-optimal.
  • 3DRIP is available; the mixed-use development pipeline (SmartLiving residential projects) introduces capital deployment risk not present in the base retail portfolio.

Market Facts

Market Data

A factual market, distribution, valuation, and financial snapshot for this holding.

Market Data

Market data

Updated facts where available

Price

$28.22

Previous close

$28.15

Day range

$28.10 - $28.34

52wk range

$25.01 - $30.90

Market cap

4.8B

Volume

265.9K

Avg volume

309.1K

Exchange

Toronto

Dividend and distribution

Forward rate

$1.85

Trailing rate

$1.85

Forward yield

6.57%

Trailing yield

6.57%

Per payment

$0.15

Cadence

Monthly

Next ex-date

Aug 31, 2026

Next pay

Aug 17, 2026

Last dividend

$0.15

Last dividend date

Jul 31, 2026

Performance

Daily change

$0.07

Daily change %

24.87%

52wk position

54.50%

Below 52wk high

-8.67%

Above 52wk low

12.83%

Open

$28.16

Earnings and financials

Trailing EPS

0.91

Forward EPS

1.98

Revenue

955.8M

Revenue growth

7.60%

Profit margin

16.44%

Operating margin

59.23%

Payout ratio

N/A

Free cash flow

406.8M

Total cash

45.3M

ROE

3.11%

ROA

2.89%

Debt/equity

85.03

Beta

0.85

Valuation

Trailing P/E

31.01

Forward P/E

14.25

Price/sales

5.03

Price/book

0.8

Enterprise value

10.4B

EV/EBITDA

18.4

Analyst facts

Target mean

$30.08

Target high

$33.00

Target low

$27.50

Recommendation mean

2.44

Recommendation key

buy

Analysts

9

Canadian Context

Account placement

TFSA

REIT distributions can mix income, capital gains, eligible dividends, and return of capital. Sheltering the holding avoids annual T3 complexity.

RRSP: Also shelters distribution complexity when TFSA room is limited.

Eligible dividend tax credit

Total credit
$345.27
Effective rate
34.53%

Broker DRIP status

Questrade

Available

Wealthsimple

Available

RBC Direct Investing

Available

TD Direct Investing

Available

Run Your Numbers

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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.