SmartCentres Real Estate Investment Trust Releases Third Quarter Results for 2026
Key Highlights
- ➤FFO per Unit fell to $0.54 from $0.59 year over year
- ➤NOI reached $141.8 million, increasing $0.5 million or 0.4% year over year
- ➤Occupancy reached 98.2%, improving 10 bps from the prior quarter
- ➤Renewal rent growth reached 11.8% excluding Anchors
- ➤Issued $450.0 million of unsecured debentures after quarter-end
TORONTO, Nov. 04, 2026 (GLOBE NEWSWIRE) -- SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) is pleased to report its financial and operating results for the quarter ended September 30, 2026.
We are pleased to report another quarter of stable operating performance, highlighted by continued leasing momentum, growing occupancy and solid Same Property NOI growth. Our retail portfolio remains exceptionally resilient, with occupancy increasing to 98.2% and strong rent growth of 11.8% on renewals excluding Anchors. Our new retail development growth program continues to progress with our recently announced new Walmart-anchored SmartCentres in Kingston, Lindsay and Winnipeg. Construction in Kingston is expected to begin in Q4 2026. In addition, we completed construction of our self-storage facilities in Montreal and Laval, bringing our operating portfolio to 16 facilities and creating another meaningful source of recurring cash flow. Subsequent to quarter-end, we further strengthened our balance sheet and extended our debt maturity profile through the issuance of $450 million of unsecured debentures. The net proceeds were used to repay maturing debt with the remainder repaying outstanding floating rate debt on our operating lines, providing additional financial flexibility to support future growth.
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