SmartCentres Real Estate Investment Trust (OTCPK:CWYUF) Q4 2024 Earnings Conference Call February 13, 2025 3:00 PM ET
Company Participants
Peter Slan – CFO
Mitch Goldhar – Executive Chair and CEO
Rudy Gobin – EVP, Portfolio Management and Investments
Conference Call Participants
Michael Markidis – BMO Capital Markets
Sam Damiani – TD Securities
Lorne Kalmar – Desjardins Capital Markets
Matt Kornack – National Bank Financial
Pammi Bir – RBC Capital Markets
Mario Saric – Scotia Capital
Operator
Good day, ladies and gentlemen. Welcome to the SmartCentres REIT Q4 2024 Conference Call. I would like to introduce Mr. Peter Slan. Please go ahead.
Peter Slan
Thank you, operator, and good afternoon. And welcome to our fourth quarter and full year 2024 results call. I’m Peter Slan, Chief Financial Officer. I’m joined on today’s call by Mitch Goldhar, SmartCentre’s Executive Chair and CEO and by Rudy Gobin, our Executive Vice President, Portfolio Management and Investments. We will begin today’s call with some comments from Mitch. Rudy will then provide operational highlights, and I will review our financial results. We will then be pleased to take your questions. Just before I turn the call over to Mitch, I would like to refer you specifically to the cautionary language about forward looking information, which can be found at the front of our MD&A materials. This also applies to comments that any of the speakers make this afternoon. Mitch, over to you.
Mitch Goldhar
Thank you, Peter. Good afternoon, and welcome everyone. The retail sector in Canada continues to power along with strong fundamentals in the basics: food, general merchandise, fashion and household value, pharmacy, general value, dollar stores. If SmartCentres has historically dominated the slice that is value and convenience on weekly needs, it is now supercharged in that regard. Rental growth was up 8.8% on lease extensions, excluding anchors and 6.6% overall. Cash collections are above 99% and then same property NOI
