Chartwell Seniors Housing

CSH.UN-T

TSE:CSH.UN

14.15
0.11 (0.77%)
Chartwell Retirement Residences is the largest participant in the Canadian seniors housing sector, with nearly 180 locations across Quebec, Ontario, Alberta, and British Columbia.
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Analysis and Opinions about CSH.UN-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
December 31, 2019
Pays a 4.3% yield. It's a trading stock, moving up and down. The highs are getting lower over time, though it's not a bearish chart. He isn't bullish and would buy elsewhere.
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Pays a 4.3% yield. It's a trading stock, moving up and down. The highs are getting lower over time, though it's not a bearish chart. He isn't bullish and would buy elsewhere.
TOP PICK
TOP PICK
December 16, 2019
A defensive, income name. Earnings growth has been weaker than expected given more room supply, but demographics will push strong demand, long-term. Trades at 14.5x funds from operations and pays a 4% dividend. Offers above-average growth. You're paid to wait with strong earnings growth than the banks. (Analysts’ price target is $16.04)
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A defensive, income name. Earnings growth has been weaker than expected given more room supply, but demographics will push strong demand, long-term. Trades at 14.5x funds from operations and pays a 4% dividend. Offers above-average growth. You're paid to wait with strong earnings growth than the banks. (Analysts’ price target is $16.04)
BUY
BUY
December 13, 2019
REITs? The REITs space has been down this week following a good performance year. It may be a temporary rotation in the market going on as investors are moving back into cyclical names. She would be buying at this level. There is some oversupply developing in regions, like Ontario. However, over the long run, demographic trends are supportive. Yield 3%
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REITs? The REITs space has been down this week following a good performance year. It may be a temporary rotation in the market going on as investors are moving back into cyclical names. She would be buying at this level. There is some oversupply developing in regions, like Ontario. However, over the long run, demographic trends are supportive. Yield 3%
BUY
BUY
November 12, 2019
Pays a good yield (4.24%). The share price has pulled back, because they're facing more supply in Ontario which drove the occupancy rate to 87%. Management thinks occupancy has bottomed and will slowly rise. Long-term demand is there, despite this temporary over-build. Outside Ontario is doing well. Their cash flow should improve going forward as will their net operating income in 2020 by 3-4%.
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Pays a good yield (4.24%). The share price has pulled back, because they're facing more supply in Ontario which drove the occupancy rate to 87%. Management thinks occupancy has bottomed and will slowly rise. Long-term demand is there, despite this temporary over-build. Outside Ontario is doing well. Their cash flow should improve going forward as will their net operating income in 2020 by 3-4%.
BUY
BUY
November 1, 2019
Has a decent growth of 5% with good dividends. They missed on Q2 with an elevated balance sheet but it is trading at a nice 15.4 times valuation. Longterm outlook is good with an aging population. The management team is executing well.
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Has a decent growth of 5% with good dividends. They missed on Q2 with an elevated balance sheet but it is trading at a nice 15.4 times valuation. Longterm outlook is good with an aging population. The management team is executing well.
BUY
BUY
October 31, 2019
Excellent long-term hold. Hit this year. Great yield. Has been adding to her position.
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Excellent long-term hold. Hit this year. Great yield. Has been adding to her position.
BUY
BUY
October 9, 2019

Stock appreciation and dividend growth coming? It's an income stock and has been rangebound this year. In Ontario, the occupancy rate has declined (too much supply). Demand will catch up to supply eventually. They're well-positioned in a good industry driven by demographics (an aging population). There's room to grow. They gradually increase their dividend (4%).

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Stock appreciation and dividend growth coming? It's an income stock and has been rangebound this year. In Ontario, the occupancy rate has declined (too much supply). Demand will catch up to supply eventually. They're well-positioned in a good industry driven by demographics (an aging population). There's room to grow. They gradually increase their dividend (4%).

PAST TOP PICK
PAST TOP PICK
September 12, 2019
(A Top Pick Sep 11/18, Up 1%) Stock's not doing very much, buy you're getting the yield. Still likes it. Attractive space. Temporary over supply issues this year. Want to increase their occupancy rate back above 90%. Yield is 4%.
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(A Top Pick Sep 11/18, Up 1%) Stock's not doing very much, buy you're getting the yield. Still likes it. Attractive space. Temporary over supply issues this year. Want to increase their occupancy rate back above 90%. Yield is 4%.
BUY
BUY
August 27, 2019
He has owned this for a long time. Pays a nice distribution that grows 2% per year. The stock has not been rising for years likely because of an occupancy issue that is slowing working itself out. It could be bought here as you are getting paid to wait. The demographics are in its favour. Yield 4.1%
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He has owned this for a long time. Pays a nice distribution that grows 2% per year. The stock has not been rising for years likely because of an occupancy issue that is slowing working itself out. It could be bought here as you are getting paid to wait. The demographics are in its favour. Yield 4.1%
HOLD
HOLD
August 13, 2019
As a senior housing stock, you want to look at occupancy rates and cash flows. There appears to be more supply, so occupancy rates have dipped below 85%, when normally it has been above 90%. She thinks this will improve over time.
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As a senior housing stock, you want to look at occupancy rates and cash flows. There appears to be more supply, so occupancy rates have dipped below 85%, when normally it has been above 90%. She thinks this will improve over time.
BUY
BUY
June 19, 2019

Chartwell vs. Sienna for growth He likes and owns both. CSH's latest report says their operating income grew an impressive 4.7%, but Sienna's was 5.4%. CSH's and Sienna's growth are 5-5.5%. CSH has a low 64% payout ratio, but Sienna is a little cheaper at 12.7x vs. CSH's 15.6x. They're similar in many ways, but Sienna has more room for multiple expansion/upside. But CSH is slightly safer because it has a bigger cap. Both are in a good space with demographics as a tailwind.

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Chartwell vs. Sienna for growth He likes and owns both. CSH's latest report says their operating income grew an impressive 4.7%, but Sienna's was 5.4%. CSH's and Sienna's growth are 5-5.5%. CSH has a low 64% payout ratio, but Sienna is a little cheaper at 12.7x vs. CSH's 15.6x. They're similar in many ways, but Sienna has more room for multiple expansion/upside. But CSH is slightly safer because it has a bigger cap. Both are in a good space with demographics as a tailwind.

BUY
BUY
May 30, 2019
Largest in Canada. Really likes it. You need to be here for the fundamentals. Baby boomers are providing a tailwind. It is struggling. Very cheap. Trading at discount to NAV. Great time to enter.
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Largest in Canada. Really likes it. You need to be here for the fundamentals. Baby boomers are providing a tailwind. It is struggling. Very cheap. Trading at discount to NAV. Great time to enter.
BUY
BUY
May 14, 2019
An income stock with an attractive yield. The last little while has seen an overbuild in some markets, so occupancy has decreased, but she's confident this will rise from 91% to 95% in time. It's always traded at a premium vs. its peers. Aging demmographics are on their side. Good management and pipeline of projects. You'll collect a 4% yield plus a few % points. A good long-term hold.
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An income stock with an attractive yield. The last little while has seen an overbuild in some markets, so occupancy has decreased, but she's confident this will rise from 91% to 95% in time. It's always traded at a premium vs. its peers. Aging demmographics are on their side. Good management and pipeline of projects. You'll collect a 4% yield plus a few % points. A good long-term hold.
BUY WEAKNESS
BUY WEAKNESS
April 24, 2019
The retirement home space is growing in demand and this company has the market cornered. You want to be selective with how you enter the space. These interest rate sensitive stocks have all surged with the belief the interest rates may be softening. He would watch for a lower entry price.
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The retirement home space is growing in demand and this company has the market cornered. You want to be selective with how you enter the space. These interest rate sensitive stocks have all surged with the belief the interest rates may be softening. He would watch for a lower entry price.
PAST TOP PICK
PAST TOP PICK
April 10, 2019
(A Top Pick Apr 16/18, Up 3%) Has long owned this, really an income stock with a yield around 4%. She likes the aging demographic play of seniors' housing. They're the largest player in this space. They can grow by acqusition in Canada and aim for 95% occupancy (9)% now). Ontario penetration is only 5-6% of senior living in these homes--seniors are and will live longer.
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(A Top Pick Apr 16/18, Up 3%) Has long owned this, really an income stock with a yield around 4%. She likes the aging demographic play of seniors' housing. They're the largest player in this space. They can grow by acqusition in Canada and aim for 95% occupancy (9)% now). Ontario penetration is only 5-6% of senior living in these homes--seniors are and will live longer.
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