SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF) Reports Strong Earnings Results

SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF - Get Free Report) announced its quarterly earnings on Wednesday. The company reported earnings of $0.40 per share for the quarter, slightly surpassing the expected consensus estimate of $0.39 by $0.01. Moreover, SmartCentres showed a net margin of 17.26% and a return on equity of 2.46%, indicating a stable financial performance.

Price Performance of SmartCentres Real Estate Investment Trust

During midday trading on Wednesday, CWYUF stock dipped by $0.09, bringing its price to $17.29. A total of 16,447 shares changed hands, which is lower than the average trading volume of 22,834 shares. The stock's 50-day moving average stands at $17.24, while the two-hundred day moving average is at $18.05. SmartCentres has a current ratio and quick ratio of 0.39 each, and its debt-to-equity ratio is at 0.71. Over the past year, the stock has reached a low of $15.82 and a high of $20.23. With a market capitalization of $3.08 billion and a price-to-earnings ratio of 26.20, the stock also has a beta of 1.17, indicating moderate volatility.

Dividend Announcement by SmartCentres Real Estate Investment Trust

The company recently communicated a dividend payment scheduled for Monday, February 17th. Shareholders who are on record by Monday, February 3rd, will receive a dividend payment of $0.1071. This dividend gives SmartCentres a yield of 7.63%. The ex-dividend date is set for Friday, January 31st. It is important to note that the payout ratio is currently high at 192.42%, suggesting that the company is returning a significant amount of its earnings to shareholders.

Recent Analyst Ratings for SmartCentres Real Estate Investment Trust

In other news, on November 19th, TD Securities upgraded SmartCentres Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating, reflecting a positive outlook among analysts.

Company Overview of SmartCentres Real Estate Investment Trust

SmartCentres Real Estate Investment Trust is recognized as one of Canada's largest fully integrated Real Estate Investment Trusts (REITs). The company boasts a robust portfolio with 191 strategically located properties across the nation. With assets totaling approximately $12.0 billion, SmartCentres manages over 35.0 million square feet of retail and office properties, achieving a 98.5% occupancy rate. The REIT's expansive land holdings extend across 3,500 acres in Canada.

Final Thoughts

SmartCentres Real Estate Investment Trust continues to showcase its resilience in the market, as indicated by its recent earnings report. Investors and analysts alike are keeping a keen eye on the company's performance, particularly in light of its latest dividend announcement and the recent upgrade from TD Securities.

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