Canadian Apartment Properties (CAR.UN.TO)…

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Canadian Apartment Properties (CAR.UN.TO)

34.99

+0.20 (0.57%)

as of Jul 21, 2026, 8:00:00 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

DON'T BUY

It’s probably too late to get in. The dividend will grow at 8% but the dividend is pretty small compared to a traditional REIT. It’s also very expensive. Would go for another company with higher growth rate.

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BUY

Buy at current levels? Yes, because new Canadians continue to enter our cities which feeds housing demand. CAR is expensive, because it keeps growing.

BUY

An industrial or residential REIT? Both sectors are great with strong supply/demand imbalance. CAR is mostly based in Ontario and have 10,000 units they can develop--a strong pipeline. Fine managers. Look at Top Picks for an industrial REIT.

TOP PICK

It's been sideways this year and only recently breaking out to all-time highs. The chart looks awesome and there's strong demand for rentals. And you're paid a dividend. (Analysts’ price target is $52.56)

BUY

A residential REIT in America or Canada He likes rentals. The young can't afford condos, so they're renting. Rentals are good inflation hedges. Owners can raise accordingly (depsite rent control) and there's also turnover. There aren't many apartment REITs in Canada, either. Also likes Dream Global REIT for international exposure.

TOP PICK

All the demographics and secular boxes are checked. They own 41,500 residential units in Toronto -- accounting for half the funds asset value. They have the ability to develop 10,000 new apartment units. A big presence in the Netherlands and Dublin as well -- the only pure apartment play there. Yield 2.83% (Analysts’ price target is $52.56)

DON'T BUY

It has benefited from population growth in the residential housing space. They own assets across Canada. He thinks they may become a major take out target. Their free cash flow yield is pretty low, around 3%, so he thinks there may be better opportunities out there.

BUY

REITs are still in favour. Remember that they've performed quite well this year. The sell off is an attractive time to buy. Really likes this one. You have to own it if you're going to play the Canadian apartment space. Largest Canadian landlord. Own European assets as well. A steady name. Room for growth.

TRADE

Fantastic ride. He likes it. They execute well. He never owned it based on valuations. They do well renovating. They are doing well in the Netherlands and doing very well there. When you miss a boat you get to be shy about it.

BUY

He liked this so much because the old Wynne government in Ontario re-imposed rent controls which discouraged the construction of new apartments. CAR.UN has excellent management, However, will the Ford government remove rent control and encourage developers to go into high-end apartments? If so, it could take 5 years to create an oversupply of apartments, so he feels safe with this REIT. CAR.UN holds first-class assets.

HOLD

It's better to rent than buy, even with yesterday's new incentive in the federal budget. So, rentals will stay tight. He wishes he owns this REIT. They've done a good job creating value with most assets in Ontario where rents have increased. He sees no headwinds against CAR.UN, but it trades at 26x AFFO, which is high. It's too pricey to enter now. The higher it rises, the shyer he gets. Definitely hold it.

DON'T BUY

They just had a good quarter. A solid 10% YOY growth. Occupancy at 99%. He sees 5% AFFO growth. A low 73% payout ratio, so the dividend is safe. Great balance sheet. It's amazing, apart from a very high valuation and pays only a small dividend. A fine name, but he wouldn't buy it now.

DON'T BUY

It is probably the best one in Canada in terms of residential REITs. You want to be cautious on REITs because they are expensive. This is not an ideal time to step into REITs.

TOP PICK

Within the REIT sector, apartments are interesting because there is a real lack of rental space. Rental rates are really accelerating at just under 12%. They are growing cash to be distributed at about 8%. They have a 2.8% dividend that is growing faster than other apartment REITs. They have a strong balance sheet. They can get into more projects. They will add apartments in Toronto and Vancouver. It is one of his largest positions as a firm. (Analysts’ price target is $50.56)

BUY

They just did a money raise, and he likes this stock--and rentals. Young people must rent, but there are limited units. This applies across Canada.

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Canadian Apartment Properties (CAR.UN.TO)