Is SmartCentres REIT (SRU.un) a good investment for 2025 in my TFSA

The company's payout ratios have always been a little too high for my liking. I prefer REITs to have adjusted funds from operations payout ratios in the 80-85% range. Smartcentre's currently sits at 98.8%.

It is starting to come down, but is still way too high for my liking. These higher payout ratios may stunt the company's overall growth and in particular dividend growth moving forward.

Nice yield of course, but the fund has really struggled to do anything for the better part of 6 years, and that dividend is sustainable at this point but it is razor thin. Another financial shock and it would zero question be cut.