Chartwell Seniors Housing (CSH.UN-T)

Chart shows it's just starting to turn around from its downtrend. Would definitely recommend.

In very different sectors. Both trade at wide discount to NAV. Neither has catalysts on horizon. CSH.UN at risk of cutting distribution, which is not being covered due to lower occupancy. CSH trustees see growth coming, but can it recover occupancy levels lost during Covid? He's watching that, as it's hard to invest in the face of a possible cut. D.UN is in an extremely tough sector. Office space, globally, has suffered with work from home. Office sector is not dead, but vacancy rates are in high teens and climbing. A good operator, Dream still owns good office buildings, especially in Toronto. 

Going out a few years, there's a lack of homes and beds. Will be more growth in this area. Great demographic play, will do very well over next little while. They're trying different formats, which is very appealing. 

Very tough time with Covid-19 (occupancy rate way down).
Expecting company to recover slowly.
Business of senior living not going anywhere.
Labor shortage concern also an issue, but is a problem being worked on.
Will continue to own shares.

It is in a difficult spot since retirement homes' occupancy rates have declined during the pandemic. Also expenses are under pressure, higher wages, etc. In the U.S. there is a recovery but not in Canada. For Chartwell the difference between income and pay-outs is not covered.