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

Analyst Comment

[retiredcf]

https://www.bnnbloomberg.ca/video/chris-blumas-discusses-canadian-apartment-properties-reit~2421634

BUY on WEAKNESS

Canadian Apartment Properties(CAR.UN-T)

12/04/2022 at 08:00pm

 

Likes Canadian apartment REITs as a defensive asset class. Stable rent collections. Higher valuations right now. His go-to name is BEI.UN. Sector is rich, wait for a pullback.

INVESTMENT COMPANIES / FUNDS

 

Chris Blumas

$52.160

No

 

[Mephistopheles3]

I saw that one yesterday, but the analyst in question didn't actually seem to know anything specific about CAR, so I discounted much of that interview.  Example he kept saying it was really really expensive and to wait for a pullback..  but it has pulled back and I don't think he knows it.   It only appeared that he knew Boardwalk's details.  Part of the issue

[AlwaysLong683]

BEI.UN has run up in unit price quite a bit over the past couple of years in line with the oil and natural gas boom as approximately 56% of their portfolio is in Alberta (with Quebec coming in secont at 15%. Unit price went from around 20.00 in March 2020 (start of COViD impact on stocks) to just under 60.00 today for a two year gain of 200%.  How much more upside does it have near term....?

[Mephistopheles3]

Right, I had that feeling as well.  I don't think CAR is in particular better run than BEI or even InterRent or Killam.  They're all pretty great REIT's and the Residential REIT market should be poised to grow given the general macroeconomic trends  (rising rents, low supply, 400K skilled immigrants coming in each year, etc..).  However, BEI is running close to a

[AlwaysLong683]

I think Killam and InterRent are also good, though somewhat higher risk than CAR. BEI is my least favorite and I'll have to disagree on management being on par with the others. I never did like its portfoliio concentration in Alberta and distributions that seemed excessive given the conentration risk. Even though they seem to be trying to increase their porfolio diversification outside of