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Canadian Apartment Properties (CAR.UN-T)
TSE:CAR.UN
50.33
0.46
(0.91%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
$50.430
Owned
Bought this a year ago. There's a chronic undersupply of Canadian housing that will benefit CAP REIT. Shares pulled back last year due to rising interest rates. Also, Ottawa wants to boost immigration by 500,000 over the next few years that will drive demand. CPA REIT is selling older properties and buying luxury apartment buildings that don't have rent control. The dividend is around 3%. Good long-term growth.
(Analysts’ price target is $56.36)You won't go wrong with either. Thinks highly of management for both. Both are concentrated in Ontario. IIP.UN is smaller, more nimble, with a focus on Toronto-Ottawa-Montreal and a growing presence into Vancouver. CAR.UN gives exposure to GTA and across Canada. If he had to choose, he'd pick IIP.UN with its 25% discount to private market value, lots of value in the portfolio.
CAP REIT pays 3.4% dividend yield at a safe, low 50% payout ratio, and last month the REIT also paid a special distribution. It trades at 14.84x earnings, a premium over Killam Apartment REIT (9.04x). Casting a shadow over residential REITs is the pledge of Prime Minister Trudeau, made in August 2021 during that election campaign to impose rent controls to solve the country's housing affordability crisis. So far, Ottawa has only threatened to review the tax treatment of REITs and actually hasn't done anything.
Canadian Apartment Properties(CAR.UN-T) Rating
Ranking : 4 out of 5
Bullish - Buy Signals / Votes : 9
Neutral - Hold Signals / Votes : 3
Bearish - Sell Signals / Votes : 1
Total Signals / Votes : 13
Canadian Apartment Properties(CAR.UN-T) Frequently Asked Questions
What is Canadian Apartment Properties stock symbol?
Canadian Apartment Properties is a Canadian stock, trading under the symbol CAR.UN-T on the Toronto Stock Exchange (CAR.UN-CT). It is usually referred to as TSX:CAR.UN or CAR.UN-T
Is Canadian Apartment Properties a buy or a sell?
In the last year, 13 stock analysts published opinions about CAR.UN-T. 9 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Canadian Apartment Properties.
Is Canadian Apartment Properties a good investment or a top pick?
Canadian Apartment Properties was recommended as a Top Pick by on . Read the latest stock experts ratings for Canadian Apartment Properties.
Why is Canadian Apartment Properties stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Canadian Apartment Properties worth watching?
13 stock analysts on Stockchase covered Canadian Apartment Properties In the last year. It is a trending stock that is worth watching.
What is Canadian Apartment Properties stock price?
On 2023-06-08, Canadian Apartment Properties (CAR.UN-T) stock closed at a price of $50.33.
Last August, the housing market was probably going to correct as rates rose. The housing market corrected and is now stabilizing. Now, there's an immigration boom into Canadian, so rent growth and demand will remain strong. He sees growth ahead.