Chartwell Seniors Housing

CSH.UN-T

TSE:CSH.UN

8.48
0.26 (2.97%)
Chartwell Retirement Residences is the largest participant in the Canadian seniors housing sector, with nearly 180 locations across Quebec, Ontario, Alberta, and British Columbia.
More at Wikipedia

Analysis and Opinions about CSH.UN-T

Signal
Opinion
Expert
COMMENT
COMMENT
October 12, 2016

NWH.UN-T vs. CSH.UN-T. CSH.UN-T has decent growth because of their demographics. His problem with REITs is that they were one of the biggest beneficiaries of the low interest rate. He looks at the cap rate and turns it into an enterprise value and you are paying 15-16 times operating cash flow. You should pay that for a high tech company, not a healthcare company. You are paying out 80-90% of the income as yield. You can’t do that in other sectors. Where is the money to invest in the business – how does it grow? He went short the REITs about two months ago. He does not like either one, but if forced to choose it would be CSH.UN-T.

Show full opinionHide full opinion

NWH.UN-T vs. CSH.UN-T. CSH.UN-T has decent growth because of their demographics. His problem with REITs is that they were one of the biggest beneficiaries of the low interest rate. He looks at the cap rate and turns it into an enterprise value and you are paying 15-16 times operating cash flow. You should pay that for a high tech company, not a healthcare company. You are paying out 80-90% of the income as yield. You can’t do that in other sectors. Where is the money to invest in the business – how does it grow? He went short the REITs about two months ago. He does not like either one, but if forced to choose it would be CSH.UN-T.

BUY
BUY
September 20, 2016

(Market Call Minute.) Thinks this is pretty decent here, and he would probably be inclined to accumulate this.

Show full opinionHide full opinion

(Market Call Minute.) Thinks this is pretty decent here, and he would probably be inclined to accumulate this.

TOP PICK
TOP PICK
September 13, 2016

This is for the aging consumer. We are all getting older. Demographics show that the over 65 population is about 16% of our overall population. It is forecast that by 2035 it is going to be over 25%. There will be increased demand for assisted care. This company pulled out of the US last year and reinvested back into Canada. They are very well positioned. Dividend yield of 3.78%.

Show full opinionHide full opinion

This is for the aging consumer. We are all getting older. Demographics show that the over 65 population is about 16% of our overall population. It is forecast that by 2035 it is going to be over 25%. There will be increased demand for assisted care. This company pulled out of the US last year and reinvested back into Canada. They are very well positioned. Dividend yield of 3.78%.

PAST TOP PICK
PAST TOP PICK
September 2, 2016

(A Top Pick Sept 11/15. Up 30.61%.) Likes this a lot. An operator of retirement residences. The superior operator of all the public entities. This has run really well, so wouldn’t be adding more at this level. If anything, you may want to consider trimming.

Show full opinionHide full opinion

(A Top Pick Sept 11/15. Up 30.61%.) Likes this a lot. An operator of retirement residences. The superior operator of all the public entities. This has run really well, so wouldn’t be adding more at this level. If anything, you may want to consider trimming.

HOLD

(Market Call Minute.)

PAST TOP PICK
PAST TOP PICK
August 24, 2016

(A Top Pick May 30/16. Up 7.08%.) This is a defensive stock.

Show full opinionHide full opinion

(A Top Pick May 30/16. Up 7.08%.) This is a defensive stock.

BUY
BUY
August 16, 2016

Likes the theme on this. This should continue to do well. It is going to be very sensitive to interest rates, so keep that in mind. If rates were to go up, you would see a pretty material pullback. He does not expect that rates will be going up in Canada.

Show full opinionHide full opinion

Likes the theme on this. This should continue to do well. It is going to be very sensitive to interest rates, so keep that in mind. If rates were to go up, you would see a pretty material pullback. He does not expect that rates will be going up in Canada.

BUY WEAKNESS
BUY WEAKNESS
July 28, 2016

The number of people over 65 is going to double over the next 25 years. In 3 of the last 4 years, demand has exceeded supply. They have done a great job of sourcing and building their margins. Wait for a pullback.

Show full opinionHide full opinion

The number of people over 65 is going to double over the next 25 years. In 3 of the last 4 years, demand has exceeded supply. They have done a great job of sourcing and building their margins. Wait for a pullback.

COMMENT
COMMENT
July 18, 2016

The REIT space has run up so much that when bad news comes out, these are going to get hammered quickly. You have to ask yourself if you are there for the yield or the share price appreciation. If you are there for the yield, you can get a similar one in other names which will not be as sensitive. If you are there for share price appreciation, these have run up so much. He would be very cautious.

Show full opinionHide full opinion

The REIT space has run up so much that when bad news comes out, these are going to get hammered quickly. You have to ask yourself if you are there for the yield or the share price appreciation. If you are there for the yield, you can get a similar one in other names which will not be as sensitive. If you are there for share price appreciation, these have run up so much. He would be very cautious.

PAST TOP PICK
PAST TOP PICK
July 13, 2016

(Top Pick May 30/16, Up 4.54%) It is defensive and dividend paying. He will be out by October/November. It is a seasonal issue.

Show full opinionHide full opinion

(Top Pick May 30/16, Up 4.54%) It is defensive and dividend paying. He will be out by October/November. It is a seasonal issue.

PAST TOP PICK
PAST TOP PICK
July 12, 2016

(A Top Pick July 14/15. Up 41.47%.) A senior housing operator. Sold off their US assets, and the money they made on that has been reinvested in Canada. Post the recession, the occupancy rate of a lot of their homes were lower, because of the overbuilding of seniors housing. That is now bouncing back up. Dividend yield of about 3.5%.

Show full opinionHide full opinion

(A Top Pick July 14/15. Up 41.47%.) A senior housing operator. Sold off their US assets, and the money they made on that has been reinvested in Canada. Post the recession, the occupancy rate of a lot of their homes were lower, because of the overbuilding of seniors housing. That is now bouncing back up. Dividend yield of about 3.5%.

BUY
BUY
June 30, 2016

(Market Call Minute) The demographics are behind them. They execute well and make nice transactions. Nice technically as well.

Show full opinionHide full opinion

(Market Call Minute) The demographics are behind them. They execute well and make nice transactions. Nice technically as well.

COMMENT
COMMENT
June 22, 2016

This is expensive, because it is expensive to live there. Fabulous facilities. Has had a great run. You have to pay a premium when there is nothing else like it in Canada.

Show full opinionHide full opinion

This is expensive, because it is expensive to live there. Fabulous facilities. Has had a great run. You have to pay a premium when there is nothing else like it in Canada.

HOLD
HOLD
June 10, 2016

Chart shows a very strong upward trend since 2009. It recently hit a new 52 week high. This is in a good sector and it has growth.

Show full opinionHide full opinion

Chart shows a very strong upward trend since 2009. It recently hit a new 52 week high. This is in a good sector and it has growth.

HOLD
HOLD
June 1, 2016

This has gone straight up in the last year. With volumes being what they are, there is no reason to Sell this. It looks like a stock that is ready to go higher.

Show full opinionHide full opinion

This has gone straight up in the last year. With volumes being what they are, there is no reason to Sell this. It looks like a stock that is ready to go higher.

TOP PICK
TOP PICK
May 30, 2016

REITs in general have been pretty good. He cherry picked this one as the most defensive. There is a little breakout and so he bought it. He likes the yield and the defensiveness.

Show full opinionHide full opinion

REITs in general have been pretty good. He cherry picked this one as the most defensive. There is a little breakout and so he bought it. He likes the yield and the defensiveness.

BUY
BUY
May 17, 2016

Seasonally the stock has a tendency to move very well like most REITs, from March through until about October. Technically it is currently in an uptrend and is outperforming the market.

Show full opinionHide full opinion

Seasonally the stock has a tendency to move very well like most REITs, from March through until about October. Technically it is currently in an uptrend and is outperforming the market.

HOLD
HOLD
May 6, 2016

Just released their numbers last night and hit the ball out of the park. Thinks it is fully valued at this level. Earnings and occupancy have been very strong. Very good operators.

Show full opinionHide full opinion

Just released their numbers last night and hit the ball out of the park. Thinks it is fully valued at this level. Earnings and occupancy have been very strong. Very good operators.

PAST TOP PICK
PAST TOP PICK
April 29, 2016

(A Top Pick May 4/15. Up 19.23%.) A lot of the REITs were under pressure, because of fear of higher interest rates. Still some room for growth. A great industry with good demographics behind it. Still a Buy.

Show full opinionHide full opinion

(A Top Pick May 4/15. Up 19.23%.) A lot of the REITs were under pressure, because of fear of higher interest rates. Still some room for growth. A great industry with good demographics behind it. Still a Buy.

COMMENT
COMMENT
April 28, 2016

(Owns the convertible debentures.) Not a lot of growth, but a good dividend. They have done a really good job. They went into the US at the right time, rode it up, sold it, and used the funds to buy Canadian, so it has had a really nice run for the last 5-7 years. Thinks growth will slow from here. Demographically it is in a good space. He would guess you would get total returns in the 6%-8% range, compound.

Show full opinionHide full opinion

(Owns the convertible debentures.) Not a lot of growth, but a good dividend. They have done a really good job. They went into the US at the right time, rode it up, sold it, and used the funds to buy Canadian, so it has had a really nice run for the last 5-7 years. Thinks growth will slow from here. Demographically it is in a good space. He would guess you would get total returns in the 6%-8% range, compound.

TOP PICK
TOP PICK
April 19, 2016

The largest seniors housing operator in Canada. Provides a nice yield of 4%. This is an industry where there is good secular growth and tends to be not as cyclical. Sold off their US operations about a year ago, and redeployed that capital back into the US to grow their presence. Recently announced an acquisition of another retirement home and have been doing that for the last few months. They are slowly starting to increase their dividend. 16% of the population is 65 and older, and in 15 years, they estimate it will be 25%.

Show full opinionHide full opinion

The largest seniors housing operator in Canada. Provides a nice yield of 4%. This is an industry where there is good secular growth and tends to be not as cyclical. Sold off their US operations about a year ago, and redeployed that capital back into the US to grow their presence. Recently announced an acquisition of another retirement home and have been doing that for the last few months. They are slowly starting to increase their dividend. 16% of the population is 65 and older, and in 15 years, they estimate it will be 25%.

WATCH
WATCH
April 18, 2016

It broke out and that was extremely bullish. He likes the REIT space. A lot of them are breaking out. It may be overbought because of the parabolic move and if it pulled back it would be a fantastic entry point.

Show full opinionHide full opinion

It broke out and that was extremely bullish. He likes the REIT space. A lot of them are breaking out. It may be overbought because of the parabolic move and if it pulled back it would be a fantastic entry point.

COMMENT
COMMENT
April 5, 2016

Extendicare (EXE-T) or Chartwell (CSH.UN-T)? This has been a very good performing stock, and thinks it is going to continue to do well. It is based on an aging demographics trend. This is the one he would prefer.

Show full opinionHide full opinion

Extendicare (EXE-T) or Chartwell (CSH.UN-T)? This has been a very good performing stock, and thinks it is going to continue to do well. It is based on an aging demographics trend. This is the one he would prefer.

COMMENT
COMMENT
April 4, 2016

Had owned this last year, and conceptually had liked where they were placed because of aging population. Did a great sale of their US assets. He has trouble with the valuation, where it is basically trading at 14-15X operating cash flow. A lot of that is based on capitalization rates they use in real estate. Because interest rates are low, capitalization rates are low. Wouldn’t worry about the safety of the payout, but to him, it is a high valuation. He would rather take more of a gamble and buy some of the distressed players like Artis Real Estate Investment Trust (AX.UN-T) that has a 9% yield. This one has a dividend yield of 3.9%.

Show full opinionHide full opinion

Had owned this last year, and conceptually had liked where they were placed because of aging population. Did a great sale of their US assets. He has trouble with the valuation, where it is basically trading at 14-15X operating cash flow. A lot of that is based on capitalization rates they use in real estate. Because interest rates are low, capitalization rates are low. Wouldn’t worry about the safety of the payout, but to him, it is a high valuation. He would rather take more of a gamble and buy some of the distressed players like Artis Real Estate Investment Trust (AX.UN-T) that has a 9% yield. This one has a dividend yield of 3.9%.

HOLD
HOLD
March 30, 2016

Likes this company. There is good secular growth that underpins the sector, i.e. that the number of people over age 65 is going to double within the next 25 years, which obviously creates more demand for retirement residences and facilities. This is one of the biggest providers in Canada, and do a fantastic job when it comes to managing expenses. If you own, you could consider taking a little money off the table, but it is a good, long term hold.

Show full opinionHide full opinion

Likes this company. There is good secular growth that underpins the sector, i.e. that the number of people over age 65 is going to double within the next 25 years, which obviously creates more demand for retirement residences and facilities. This is one of the biggest providers in Canada, and do a fantastic job when it comes to managing expenses. If you own, you could consider taking a little money off the table, but it is a good, long term hold.

PAST TOP PICK
PAST TOP PICK
March 24, 2016

(Top Pick Oct 6/15, Up 13.54%) He likes the REIT space and the healthcare space, but wanted to stay away from the Pharma space. This one was an outperformer compared to its peers. Stay with it.

Show full opinionHide full opinion

(Top Pick Oct 6/15, Up 13.54%) He likes the REIT space and the healthcare space, but wanted to stay away from the Pharma space. This one was an outperformer compared to its peers. Stay with it.

HOLD
HOLD
March 15, 2016

Owns some of their convertible debentures, which will eventually become stock. Thinks it is going to be a little more difficult to repeat their success going forward. They will make small tuck-in acquisitions where they can, and you will get the dividend plus a tiny bit of growth. Valuations are relatively fair right now.

Show full opinionHide full opinion

Owns some of their convertible debentures, which will eventually become stock. Thinks it is going to be a little more difficult to repeat their success going forward. They will make small tuck-in acquisitions where they can, and you will get the dividend plus a tiny bit of growth. Valuations are relatively fair right now.

PAST TOP PICK
PAST TOP PICK
March 10, 2016

(Top Pick Mar 12/15, Up 16.21%) They refocused into Canada and are starting to raise their dividend. She likes the outlook for senior’s housing. Penetration is very low in the industry. Their occupancy is increasing and has further to go. The cash from the US assets is being used in Canada now for growth and acquisitions.

Show full opinionHide full opinion

(Top Pick Mar 12/15, Up 16.21%) They refocused into Canada and are starting to raise their dividend. She likes the outlook for senior’s housing. Penetration is very low in the industry. Their occupancy is increasing and has further to go. The cash from the US assets is being used in Canada now for growth and acquisitions.

COMMENT
COMMENT
February 17, 2016

The sector is rather strange because of a transforming acquisition by Ontario Teachers on Amica, which messed up all valuations on these retirement investments. Sold their US assets and are now totally located in Canada. The largest provider of seniors housing. Have done a good job of curtailing costs and have grown through acquisitions. They only pay out about 70% of their Net Operating Income. They are in a good spot to execute further, as well as a possible distribution increase. The sector is still somewhat expensive.

Show full opinionHide full opinion

The sector is rather strange because of a transforming acquisition by Ontario Teachers on Amica, which messed up all valuations on these retirement investments. Sold their US assets and are now totally located in Canada. The largest provider of seniors housing. Have done a good job of curtailing costs and have grown through acquisitions. They only pay out about 70% of their Net Operating Income. They are in a good spot to execute further, as well as a possible distribution increase. The sector is still somewhat expensive.

BUY
BUY
January 27, 2016

It is a pretty good long term hold. 4.5% yield and it is off the recent highs. The payout is about 80% which leaves room for error or dividend increases. They have promised another dividend increase. Their occupancy rates are historically low so there is room for improvement there. The retirement business is a tough business with low margins, but there is no shortage of potential clients, who are getting peak value for their homes as they move out of them. He would buy at these levels.

Show full opinionHide full opinion

It is a pretty good long term hold. 4.5% yield and it is off the recent highs. The payout is about 80% which leaves room for error or dividend increases. They have promised another dividend increase. Their occupancy rates are historically low so there is room for improvement there. The retirement business is a tough business with low margins, but there is no shortage of potential clients, who are getting peak value for their homes as they move out of them. He would buy at these levels.

Don Lato

Unlock Ratings

Price
$12.500
Owned
Unknown
Showing 61 to 90 of 375 entries