Canadian Apartment Properties (CAR.UN.TO)…

Canadian Apartment Properties (CAR.UN.TO)

31.52

-0.17 (0.54%)

as of Oct 16, 2026, 8:00:00 pm Market Open.

494 watching

TOP PICK

Apartment REIT with mobile home communities, which are very strong cash flowing vehicles. They spent the last 2 or 3 years putting a lot of capital into assets and acquisitions that resulted in increased cash flow per unit. Payout ratio has come down from over 100% into the 80’s. First distribution increases last year for many years. 3-6% cash flow growth going forward. 4.5% yield. They plan on yearly distribution increases going forward.

TOP PICK

Had a great quarter. Made a few acquisitions. 4.7% yield. Not economically sensitive. Even if economy is soft the apartment space will hold up.

BUY

It keeps on bouncing off its high. All of them have done well. Analysis are saying to sell board walk and to buy this one because it has underperformed. These guys are fine. They have expanded a lot.

COMMENT

60%-70% of apartments in Toronto with half of that, or more, in the GTA. 4.7% yield. Increased their distribution this year by about 3%. Have spent a lot of money rejuvenating their apartments, which hopefully will allow them to increase their rents.

BUY

Most of their apartment units are in Eastern Canada. This is a controlled rent market and will be capped at 2.5% next year giving you good visibility in which direction cash flow is going. 4.8% yield.

PAST TOP PICK

(A Top Pick Nov 10/11. Up 20.31%.) Still likes the REIT space but they have gotten quite expensive. Sold his holdings.

COMMENT

Likes this sector. Own apartments, mostly in Eastern Canada. Apartment sector, somewhat counter intuitively is somewhat defensive. As economy slows down, demand for low income housing increases. They rent out apartments for $950-$1000 a month so occupancy is going up but cost of financing has gone down. In the next 12-18 months, there will probably be a mid-single digit rise in cash flow, which should provide some nice legs. 4.3% dividend yield is safe and likely to increase.

TOP PICK

Predominately apartment buildings with high quality apartments. Have done a great job of focusing on their operating performance. Have good access to rent increases because the market for rentals is quite tight. Expecting there could be an increase in the next 6-12 months in the 4.5% distribution.. Recently made a small acquisition of a mobile home manufacturer.

BUY

Just added this to his portfolio. Hasn't grown the distribution for quite some time and cash flow was pretty stagnant. Recently, cash flow growth has materialized and the payout ratio has come below 100. Offers about a 14.5% total return.

PAST TOP PICK

(A Top Pick Feb 8/11. Up 34.91%.) Yield is very attractive. With condo prices, particularly in the big markets like Calgary Vancouver and Toronto, going up so much, rental properties are going to be in higher demand. Stock is pretty expensive right now so only buy on dips.

HOLD

Very high quality name in the apartment space in Canada with a disproportionate amount of properties and cash flow in the greater Toronto area. Extremely well-managed. 80% payout ratio. 4.8% dividend yield.

PAST TOP PICK

(A Top Pick March 11/11. Up 18.75%.) Still likes.

BUY

Apartments, mainly in Ontario. Just produced some pretty good numbers recently. One of the problems in Ontario, particularly Toronto, is rent control. Pretty good management.

TOP PICK

Very good REIT that owns thousands of apartment units. Working very hard on increasing its energy efficiency and are saving lots of money. Discipline on the price they pay for acquisitions. Will likely be able to increase their 5.3% distribution.

BUY

Apartment REIT. Excellent. Yield of 5.3%. Very good sector.

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Canadian Apartment Properties (CAR.UN.TO)