Derek Warren CT Real Estate Investment CRT.UN-T BUY May 26, 2025

It owns the assets of Canadian Tire. Has a net lease structure where the tenants are responsible for operations and asset improvements, Stable earnings at 5% plus. Good management and low growth.

Thinks highly of it and management. 92% of rents come from Canadian Tire. Very safe distribution yield, low leverage around 40%. Not concerned about balance sheet. Decent job growing net operating income by 2.6% YOY.

Not for growth, but own for stability of cashflow from its investment-grade tenant, Canadian Tire. One of the largest REITs in Canada. Discount to NAV. Stable, keep holding. Yield is around 6.5%.

Very stable. Sleep at night with an investment-grade tenant like Canadian Tire. Discount to NAV. Not a lot of upside in terms of growth, which would come from acquisitions. Sees no current risks. Distribution yield is 6.8%.

Like Choice REIT is to Loblaw, CRT is to Canadian Tire. The 6% dividend is safe, based on a safe payout ratio. If interest rates stay pat, these shares won't move much, but if rates fall, CRT will do well.

Over 90% of rents come from Canadian Tire, secure cashflow. Over 99% occupancy. Internal growth has contracted, but this is short-term. Perhaps only 2% capital growth, but a safe distribution. Yield is 6.5%.

Likes it technically, pushing higher. Series of higher highs and higher lows. Looks as though it wants to break out. If you think we're heading into a defensive environment (his view), then this will work like a bond. Boring, but gives your capital some protection and spits out dividends. Yield is 5.98%.

92% of rent comes from Canadian Tire, which in turn owns about 70% of the REIT. Very stable, so not a tremendous amount of growth. About 2% topline growth translates into ~3% on the bottom line, and that's all you can expect. Interesting transactions. Thinks highly of management. Safe distribution, just south of 6%.