Canadian Apartment Properties (CAR.UN.TO)…

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Canadian Apartment Properties (CAR.UN.TO)

34.70

-0.09 (0.26%)

as of Jul 21, 2026, 5:42:24 pm Market Open.

493 watching

Investor Insights

Jul 21, 2026, 12:00 am

This summary was created by AI, based on 12 opinions in the last 12 months.

The Canadian Apartment Properties REIT (CAR.UN) is currently facing a challenging market environment due to decreased immigration levels and rising rental supply, particularly in the condo sector. Experts highlight the impact of expired high-rent leases from the pandemic, leading to diminished rental income for many properties. Although sentiment appears cautious, some analysts suggest that the stock is approaching an attractive price-to-earnings ratio, indicating potential future value. There are mixed feelings about the management's strategies, with concerns over rent control and interest rate volatility further complicating the outlook. However, the general belief is that the cyclical downturn will eventually pass, leaving room for a recovery in the long term as demographics and demand begin to shift positively once more.

Consensus

Cautious

Valuation

Undervalued

Similar

CAPREIT, CAR.UN

SELL

Doesn't like this one. Prefers Boardwalk (BEI.UN-T) and Killam (KMP-T). Even though it has recovered from its lows, you are still dealing with the GTA and it's over supply of rental space. Also balance sheet concerns. (See Top Picks.)

COMMENT

A lot of apartment properties along the Toronto subway line and with low interest rates people were buying condos last year. Thinks this will slow when interest rates begin to move up in 5-6 months. There is a glut of rental units. Also have to spend CapX on the units. Cheap on a valuation standpoint. 7.5% yield.

WEAK BUY

Starting to get interesting at these levels. Had a problem with underestimating amount needed on CapX for apartment restorations but are now addressing this. Have free cash flow payout at about 107%-108% but should be stable for the next 2 years.

BUY

(Market Call Minute) Cap X has been the big overhang and they seem to be getting over it.

TOP PICK

Uses as a pairs trade against Boardwalk (BEI.UN-T). Both came off a lot last year. Boardwalk has gone up 50%-75% while this one is up marginally. This is about 8% yield and Boardwalk is about 5%. Trading at 10X Funds From Operations while Boardwalk is about 13X-14X. Vast majority of their apartments are in Ontario.

COMMENT

(Market Call Minute.) Over levered. Either a Hold or Sell.

DON'T BUY

(Market Call Minute.) Not performing well because of concerns a lot of problems in the Toronto market.

BUY

Canadian Apartment Properties (CAR.UN-T) and/or Boardwalk REITs (BEI.UN-T)? Thinks you get the same valuation in REITs as you would in the property market with a lot less work. He would buy either one of these or both.

COMMENT

Not a REIT for tax purposes because they recently purchased high-end manufactured home communities, which does not qualify as passive investments. (Wouldn't worry because of this.) Tremendous asset/debt ratio with CMHC financing. Not sure they will be able to grow free cash flow.

DON'T BUY

A big part of the portfolio is in Toronto where they rent controls. They have a lot of capital expenditures to do. Fairly high yield. Like the management. You are better off to go elsewhere.

BUY

(Market Call Minute) Good steady eddy way to go.

DON'T BUY

Question about status of REIT so possibility of having to change into a corporation.

HOLD

Apartments, condos, etc. in Ontario. This one has had more diversity of opinions by people who know the business well. He thinks they're okay. They have been buying back stock. Apartments are long-term big winners overall. 7% yield.

HOLD

Their concentration in Ontario has not served them well with the flight of Congo/apartment dwellers to home ownership.

COMMENT

Large apartment buildings, mainly in Toronto and Montreal. Good management. Very cheap at these levels. Acquiring at a very large discount to NAV but will sell when it comes back. Treating it as a trade.

Showing 226 to 240 of 260 entries

Most Recent Experts

Julien Nono-Womdim

Goodreid Investment Council

Jim Cramer - Mad Money

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Larry Berman CFA, CMT, CTA

ETF Capital Management Inc.

David Driscoll

Liberty International Investment Management Inc

Malcolm Ethridge, Mgn. partner, Capital Area Planning Group

Capital Area Planning Group

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Canadian Apartment Properties (CAR.UN.TO)