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Canadian Apartment Properties (CAR.UN-T)

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Canadian Apartment Proper...
CAR.UN-T

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Signal	Opinion	Expert
BUY	Canadian Apartment Properties(CAR.UN-T) March 26, 2019 He liked this so much because the old Wynne government in Ontario re-imposed rent controls which discouraged the construction of new apartments. CAR.UN has excellent management, However, will the Ford government remove rent control and encourage developers to go into high-end apartments? If so, it could take 5 years to create an oversupply of apartments, so he feels safe with this REIT. CAR.UN holds first-class assets. investment companies/funds 0 0 0 0 0 0 comments	He liked this so much because the old Wynne government in Ontario re-imposed rent controls which discouraged the construction of new apartments. CAR.UN has excellent management, However, will the Ford government remove rent control and encourage developers to go into high-end apartments? If so, it could take 5 years to create an oversupply of apartments, so he feels safe with this REIT. CAR.UN holds first-class assets. investment companies/funds 0 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $51.700 Owned Yes

HOLD	Canadian Apartment Properties(CAR.UN-T) March 20, 2019 It's better to rent than buy, even with yesterday's new incentive in the federal budget. So, rentals will stay tight. He wishes he owns this REIT. They've done a good job creating value with most assets in Ontario where rents have increased. He sees no headwinds against CAR.UN, but it trades at 26x AFFO, which is high. It's too pricey to enter now. The higher it rises, the shyer he gets. Definitely hold it. investment companies/funds 0 0 0 0 0 0 comments	It's better to rent than buy, even with yesterday's new incentive in the federal budget. So, rentals will stay tight. He wishes he owns this REIT. They've done a good job creating value with most assets in Ontario where rents have increased. He sees no headwinds against CAR.UN, but it trades at 26x AFFO, which is high. It's too pricey to enter now. The higher it rises, the shyer he gets. Definitely hold it. investment companies/funds 0 0 0 0 0 0 comments Paul Gardner, C Partner an, Avenue Investment Ma... Price $50.680 Owned No
DON'T BUY	Canadian Apartment Properties(CAR.UN-T) March 18, 2019 They just had a good quarter. A solid 10% YOY growth. Occupancy at 99%. He sees 5% AFFO growth. A low 73% payout ratio, so the dividend is safe. Great balance sheet. It's amazing, apart from a very high valuation and pays only a small dividend. A fine name, but he wouldn't buy it now. investment companies/funds 0 0 0 0 0 0 comments	They just had a good quarter. A solid 10% YOY growth. Occupancy at 99%. He sees 5% AFFO growth. A low 73% payout ratio, so the dividend is safe. Great balance sheet. It's amazing, apart from a very high valuation and pays only a small dividend. A fine name, but he wouldn't buy it now. investment companies/funds 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $50.230 Owned No
DON'T BUY	Canadian Apartment Properties(CAR.UN-T) February 11, 2019 It is probably the best one in Canada in terms of residential REITs. You want to be cautious on REITs because they are expensive. This is not an ideal time to step into REITs. investment companies/funds 0 0 0 0 0 0 comments	It is probably the best one in Canada in terms of residential REITs. You want to be cautious on REITs because they are expensive. This is not an ideal time to step into REITs. investment companies/funds 0 0 0 0 0 0 comments Larry Berman CF Chief Inve, ETF Capital Manageme... Price $48.460 Owned Unknown
TOP PICK	Canadian Apartment Properties(CAR.UN-T) February 7, 2019 Within the REIT sector, apartments are interesting because there is a real lack of rental space. Rental rates are really accelerating at just under 12%. They are growing cash to be distributed at about 8%. They have a 2.8% dividend that is growing faster than other apartment REITs. They have a strong balance sheet. They can get into more projects. They will add apartments in Toronto and Vancouver. It is one of his largest positions as a firm. (Analysts’ price target is $50.56) investment companies/funds 0 0 0 0 0 0 comments	Within the REIT sector, apartments are interesting because there is a real lack of rental space. Rental rates are really accelerating at just under 12%. They are growing cash to be distributed at about 8%. They have a 2.8% dividend that is growing faster than other apartment REITs. They have a strong balance sheet. They can get into more projects. They will add apartments in Toronto and Vancouver. It is one of his largest positions as a firm. (Analysts’ price target is $50.56) investment companies/funds 0 0 0 0 0 0 comments David Burrows President , Barometer Capital Ma... Price $48.750 Owned Yes
BUY	Canadian Apartment Properties(CAR.UN-T) January 16, 2019 They just did a money raise, and he likes this stock--and rentals. Young people must rent, but there are limited units. This applies across Canada. investment companies/funds 0 0 0 0 0 0 comments	They just did a money raise, and he likes this stock--and rentals. Young people must rent, but there are limited units. This applies across Canada. investment companies/funds 0 0 0 0 0 0 comments Jaime Carrasco Portfolio , Canaccord Genuity... Price $45.400 Owned Yes
BUY on WEAKNESS	Canadian Apartment Properties(CAR.UN-T) December 5, 2018 A shortage of housing and a willingness to rent to added to their tailwinds. At these levels, he would wait for a better price. investment companies/funds 0 0 0 0 0 0 comments	A shortage of housing and a willingness to rent to added to their tailwinds. At these levels, he would wait for a better price. investment companies/funds 0 0 0 0 0 0 comments Joshua Varghese Portfolio , Signature Global Ass... Price $46.400 Owned No
BUY	Canadian Apartment Properties(CAR.UN-T) November 27, 2018 It's still a buy. Doug Ford took rent control off new Ontario apartments, which did this sector a favour. This will spur new building of units. A well-run company. The dividend is under 4%, which is slightly lower than other REITs, but boasts better growth potential. investment companies/funds 0 0 0 0 0 0 comments	It's still a buy. Doug Ford took rent control off new Ontario apartments, which did this sector a favour. This will spur new building of units. A well-run company. The dividend is under 4%, which is slightly lower than other REITs, but boasts better growth potential. investment companies/funds 0 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $46.600 Owned Yes
BUY	Canadian Apartment Properties(CAR.UN-T) August 29, 2018 Still likes the assets, management, and the huge shortage of high-quality apartments in markets like Toronto. A great holding. investment companies/funds 1 0 0 0 0 0 comments	Still likes the assets, management, and the huge shortage of high-quality apartments in markets like Toronto. A great holding. investment companies/funds 1 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $46.370 Owned Unknown
DON'T BUY	Canadian Apartment Properties(CAR.UN-T) July 31, 2018 Has done fantastically, owning apartment buildings mainly in Ontario. Largest landlord in Toronto region, and benefiting from high rents. Biggest issue is that it’s very expensive, trading about 28x AFFO, compared to most REITs at 16-18x. Large cap spend on older units, but they’re developing so there’s growth. Question as to what new Ontario government will do with rent control. investment companies/funds 0 0 0 0 0 0 comments	Has done fantastically, owning apartment buildings mainly in Ontario. Largest landlord in Toronto region, and benefiting from high rents. Biggest issue is that it’s very expensive, trading about 28x AFFO, compared to most REITs at 16-18x. Large cap spend on older units, but they’re developing so there’s growth. Question as to what new Ontario government will do with rent control. investment companies/funds 0 0 0 0 0 0 comments Paul Gardner, C Partner an, Avenue Investment Ma... Price $43.350 Owned Unknown
HOLD	Canadian Apartment Properties(CAR.UN-T) June 22, 2018 They did very well in Q1. Funds from operations up 10% y-o-y. NOI up 7%. Good balance sheet. 72% payout ratio. 47% debt to fair value. Everything great except it is trading at 22.8 times 2019 earnings. investment companies/funds 0 0 0 0 0 0 comments	They did very well in Q1. Funds from operations up 10% y-o-y. NOI up 7%. Good balance sheet. 72% payout ratio. 47% debt to fair value. Everything great except it is trading at 22.8 times 2019 earnings. investment companies/funds 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $43.100 Owned Yes
COMMENT	Canadian Apartment Properties(CAR.UN-T) February 23, 2018 Income generator. A stable one. It is richly valued. They look for a combination if income and growth. investment companies/funds 0 0 0 0 0 0 comments	Income generator. A stable one. It is richly valued. They look for a combination if income and growth. investment companies/funds 0 0 0 0 0 0 comments Greg Newman Director &, Scotia Wealth Manage... Price $35.360 Owned No
SELL	Canadian Apartment Properties(CAR.UN-T) February 15, 2018 Take the money and run. It is an all stock deal. He is not bullish on the sector. His issue with the sector is valuation. There is very little growth here except by acquisition. investment companies/funds 0 0 0 0 0 0 comments	Take the money and run. It is an all stock deal. He is not bullish on the sector. His issue with the sector is valuation. There is very little growth here except by acquisition. investment companies/funds 0 0 0 0 0 0 comments John Zechner Chairman, J. Zechner & Assoc... Price $36.710 Owned Unknown
PAST TOP PICK	Canadian Apartment Properties(CAR.UN-T) February 13, 2018 (A Top Pick Feb. 16/17, Up 16%) High-quality properties with low vacancies and benefits from a tight rental market. Well-run though they lost their chairman. Good yield play of 3.6% that will likely rise. Lower dividend than other REITs, but with higher-growth potential. investment companies/funds 0 0 0 0 0 0 comments	(A Top Pick Feb. 16/17, Up 16%) High-quality properties with low vacancies and benefits from a tight rental market. Well-run though they lost their chairman. Good yield play of 3.6% that will likely rise. Lower dividend than other REITs, but with higher-growth potential. investment companies/funds 0 0 0 0 0 0 comments David Baskin President, Baskin Wealth Manage... Price $35.760 Owned Unknown
DON'T BUY	Canadian Apartment Properties(CAR.UN-T) February 9, 2018 Never a fun of REITs. He mistrusts them. He worries about the return of capital issue on REITs. He is not very keen on buying Toronto Real Estate now also. He rather had a covered call on banks for income. investment companies/funds 0 0 0 0 0 0 comments	Never a fun of REITs. He mistrusts them. He worries about the return of capital issue on REITs. He is not very keen on buying Toronto Real Estate now also. He rather had a covered call on banks for income. investment companies/funds 0 0 0 0 0 0 comments John Hood President , J. C Hood Investment... Price $34.940 Owned No

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