Canadian Apartment Properties (CAR.UN.TO)…

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Canadian Apartment Properties (CAR.UN.TO)

35.78

+0.48 (1.36%)

as of Jun 12, 2026, 8:00:00 pm Market Open.

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Investor Insights

Jun 12, 2026, 12:00 am

This summary was created by AI, based on 13 opinions in the last 12 months.

Canadian Apartment Properties (CAR.UN-T) is currently facing challenges primarily due to reduced immigration levels affecting the rental market and an oversupply of condos leading to falling rents. Experts note that while the situation is tough now, there are expectations of future recovery in the sector as immigration policies may improve over time. Many analysts see the stock as a potential yield play, especially considering its attractive price-to-earnings ratio and dividend yield, which hovers around 4%. However, concerns about volatile interest rates and potential government interventions in rent controls have also made some experts cautious. Overall, there's a sense that patience is required as the cyclical nature of the real estate market suggests a turnaround in a few years.

Consensus

Cautious

Valuation

Undervalued

Similar

Brookfield, BPY.UN

BUY

All REITs have come down as interest rates rise. CAP REIT is the largest apartment REIT in Canada and has been incredibly well-run for decades. It offers decent growth because rents are rising. Likes it. Sees growth in share price and dividend. Long term this is a compelling hold.

BUY

Allan Tong’s Discover Picks I reiterate a buy on this renown REIT, especially after shares have slid $15 this year to below $44 to 52-week lows, while the dividend has climbed from well below 3% to 3.35%. CAP REIT owns 57,000 units particularly prime real estate in Ontario and to a lesser extent, Quebec. It’s the largest multi-residential REIT on the TSX. CAP REIT’s occupancy rate was 98.6% as stated in the company’s 2021 annual report. The PE is now an attractive 5.75x, though admittedly higher than other residential REITs like Boardwalk, as noted above. Read 3 defensive stocks to find stability with your money for our full analysis.

DON'T BUY

High governance. Hurt by higher utility prices and its high valuation. Rent growth is growing, but this will take a while. Higher interest rates will take their toll. His proxy is KMP.UN, focused in Nova Scotia, with a growth profile of immigration coming into Halifax.

PAST TOP PICK

(A Top Pick Mar 30/21, Down 3%) He lightened up on price strength. Market worries about renovictions. 17.5% discount to NAV, an opportunity to buy at these levels.

BUY ON WEAKNESS

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.

HOLD

This is the only one he owns, the largest in Canada, incredibly well run, a solid income play. If rates keep going up, the sector will see volatility, because people buy REITs for income.

BUY

Not a big dividend play (it pays below 3%), but it's a good one to look at it. After its recent dip, it offers good value--it's defensive and a hedge against (mild) Canadian housing weakness if that happens.

TOP PICK

It's a steady-eddy and the biggest landlord in Canada with 97-98% occupancy. They had some fall-off during Covid, but they are back to fully rented. There's a general shortage of housing. Don't expect spectacular returns, but good, rising dividends as the value of the properties also rises. A solid defensive stock. (Analysts’ price target is $68.79)

PAST TOP PICK

(A Top Pick Nov 10/20, Up 22%) Pandemic proved their resilience. Operating growth more muted this year. Apartment business is predicated on new people coming to Canada. Expects pricing power to return. Hidden upside with land they own. Great REIT.

BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. One of their favourite REITs. Good for income. One of the best managed REITs that has good potential with a strong historical performance record. Unlock Premium - Try 5i Free

PAST TOP PICK

(A Top Pick Oct 19/20, Up 38%) He would stick with it. It is a great core holding and has been for a couple of decades. Immigration is coming back in after COVID and when you land in Canada, you need somewhere to live. There may be pressure on the Ford government to keep rents flat, but he likes the name. You might want to trim some of your gains.

HOLD

Well loved and well owned. Dividend yield doesn't excite him. Better yields in the sector with similar growth prospects, especially with changing dynamics of retail and office. Steady, stable, but not a lot of growth. Nothing wrong with a long-term hold.

WAIT

Good solid investment. Liberal election platform is targetting landlords, so keep an eye on this. Long-term that's just noise. Great job growing portfolio. He'd want to see more growth pass through to the dividend. On his list. Wait for a better entry point when the whole market is softer, perhaps in September.

DON'T BUY

CAR has pulled back in the last couple of weeks. Stable dividend, rather than a grower, which is why he'd be less focused on that area. Cashflows will be flat this year, but should be back to growth next year. He'd prefer the industrial REITs more, such as DIR.UN. Yield is 2.3%.

BUY

One of his favoured multi-family stocks. Trades at a discount to NAV. Management is very strong. Catalyst to the apartment sector is the return of immigration. CAR.UN delivers affordable housing for immigrants and students. Great combination of value and growth.

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Canadian Apartment Properties (CAR.UN.TO)