Canadian Apartment Properties Real Estate Investment Trust T.CAR.UN

Alternate Symbol(s): CDPYF

Canadian Apartment Properties Real Estate Investment Trust is a Canada-based provider of rental housing. The Company owns and manages interests in multiunit residential rental properties, including apartments, townhomes and manufactured home communities (MHC), principally located in and near urban centers across Canada. The Company owns approximately 64,200 residential apartment suites, town homes and manufactured home community sites located across Canada and the Netherlands, with approximately $16.7 billion of investment properties in Canada and Europe. The Company’s objectives are to maintain a focus on maximizing occupancy and responsibly growing occupied average monthly rent (Occupied AMR) in accordance with local conditions in each of its markets; grow FFO per unit, sustainable distributions and NAV per unit by actively managing its properties; invest capital within the property portfolio and adopt edge technologies and solutions; and maintain financial management.

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Canadian Apartment Properties Real Estate Investment Trust > Christine Poole -BNN- TOP PICK

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Comment by Possibleidiot01on Oct 18, 2022 2:58pm

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RE:Christine Poole -BNN- TOP PICK

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The whole sector has fallen back to its pandemic low, but apartment REITs face some tailwinds. Ottawa is targeting immigration levels of 450,000 per year through 2024 (vs. pre-Covid of 340,000). They will need places to live. Also, foreign students have all come back, and there's a housing shortage in Canada. CAP operates 50% of its business in Ontario, plus BC and Quebec. Short-term headwinds are interest rates and rent controls of 1.2% (2022) and 2.5% (2023) in Ontario. CAR can absorb this. Their dividend now pays 3.5%; they have not cut their dividend in the past 10 years, and has raised it in 9 of those years. (Analysts’ price target is $57.75)

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