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  5. SRU.UN: please comment on earnings. [SmartCentres Real Estate Investment Trust]
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Investment Q&A

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Q: please comment on earnings. My wife is looking for a nice safe dividend with potential share price appreciation over the next 5 years. They have terrific assets and Goldhar seems like a smart ceo. The stock has been a laggard but post-covid my hope is that it will do better.

Asked by Murray on February 16, 2021
5i Research Answer:

SHopping center occupancy was 97% in the recent quarter. The payout ratio for the year was 87%. They are now collecting around 95% of bullings over the last three months, so things appear to have normalized for the company and having larger chains as anchors is paying off. Asa bit of a recovery play, we think SRU is fine. We might not view the distribution as 'safe' in this environment but overall would not be too concerned with it, particualrly longer-term.