Canadian Apartment Properties | StockChase
129
Canadian Apartment Properties (CAR.UN-T)

Last Price Recorded: $37.8000 on 2017-12-14

ON STOCKCHASE SINCE Nov 2001

investment companies/funds
129
Canadian Apartment Properties (CAR.UN-T)

Last Price Recorded: $37.8000 on 2017-12-14

ON STOCKCHASE SINCE Nov 2001

investment companies/funds

Canadian Apartment Properties


Signal Opinion Expert
COMMENT

Doesn't follow this closely. It owns a lot of apartment buildings, particularly in areas like Metropolitan Toronto, where the housing market is relatively tight. Very steady cash flow streams. They get rate increases every year, so it's a relatively defensive type of investment. A good candidate if looking for yield and a defence of cash flow. Dividend yield of 3.5%.

investment companies/funds

Doesn't follow this closely. It owns a lot of apartment buildings, particularly in areas like Metropolitan Toronto, where the housing market is relatively tight. Very steady cash flow streams. They get rate increases every year, so it's a relatively defensive type of investment. A good candidate if looking for yield and a defence of cash flow. Dividend yield of 3.5%.

investment companies/funds
Christine Poole

CEO & Managing Director, GlobeInvest Capital ...

PricePrice
$37.100
Owned Owned
No

HOLD

He continues to like this. The demand/supply fundamentals are great. CHMC just released an apartment survey and their outlook for vacancies in major metropolitan city centres are absurdly low in Toronto, Montréal and Ottawa. This one tends to be focused in eastern Canada, and are definitely going to benefit from that low vacancy rate. Also, management spent a ton of money in the last 10 years reinvesting in their properties, allowing them to charge a little more for rent.

investment companies/funds

He continues to like this. The demand/supply fundamentals are great. CHMC just released an apartment survey and their outlook for vacancies in major metropolitan city centres are absurdly low in Toronto, Montréal and Ottawa. This one tends to be focused in eastern Canada, and are definitely going to benefit from that low vacancy rate. Also, management spent a ton of money in the last 10 years reinvesting in their properties, allowing them to charge a little more for rent.

investment companies/funds
Andy Nasr

VP & Investment Strategist, Sentry Investments...

PricePrice
$37.010
Owned Owned
Yes

COMMENT

There is a huge shortage of rentable apartments, particularly in Toronto. Rents keep going up. With the extension of rent control to newly built buildings in Ontario, no one is going to build anymore apartments. That has been great for this company.

investment companies/funds

There is a huge shortage of rentable apartments, particularly in Toronto. Rents keep going up. With the extension of rent control to newly built buildings in Ontario, no one is going to build anymore apartments. That has been great for this company.

investment companies/funds
David Baskin

President, Baskin Wealth Manage...

PricePrice
$36.800
Owned Owned
Unknown

COMMENT

Owns apartments in Canada, with significant exposure to Eastern Canada and a modest exposure to continental Europe. He owns this and continues to like it. It is very well-capitalized and well-run. Spent over $1 billion in investing in their own properties, enabling them to affect above guideline increases in Ontario. They will be able to benefit from the Ontario changes in rent regulations. 3.7% dividend yield.

investment companies/funds

Owns apartments in Canada, with significant exposure to Eastern Canada and a modest exposure to continental Europe. He owns this and continues to like it. It is very well-capitalized and well-run. Spent over $1 billion in investing in their own properties, enabling them to affect above guideline increases in Ontario. They will be able to benefit from the Ontario changes in rent regulations. 3.7% dividend yield.

investment companies/funds
Andy Nasr

VP & Investment Strategist, Sentry Investments...

PricePrice
$34.680
Owned Owned
Yes

COMMENT

When talking apartments, where are they located? Most of these are located in Ontario. It has done incredibly well because the Ontario economy has done well. They don’t have much exposure in Alberta, but they do have some in the Netherlands. A good company. They are not over distributing their balance sheet, so he does like this. Rent controls are back on which is not a big thing for this company, but also not a great thing. Trading at about 16X Price to AFFO, on the high side historically.

investment companies/funds

When talking apartments, where are they located? Most of these are located in Ontario. It has done incredibly well because the Ontario economy has done well. They don’t have much exposure in Alberta, but they do have some in the Netherlands. A good company. They are not over distributing their balance sheet, so he does like this. Rent controls are back on which is not a big thing for this company, but also not a great thing. Trading at about 16X Price to AFFO, on the high side historically.

investment companies/funds
Paul Gardner, CFA

Partner and Portfolio Manager, Avenue Investment Ma...

PricePrice
$33.490
Owned Owned
No

WEAK BUY

Mr. Swartz passed away in the last couple of days after being ill.  That is why you saw dislocation.  Along with other REITs it took a hit from higher rates.  It is okay to hold.  He would not want to hold retail REITs.

investment companies/funds

Mr. Swartz passed away in the last couple of days after being ill.  That is why you saw dislocation.  Along with other REITs it took a hit from higher rates.  It is okay to hold.  He would not want to hold retail REITs.

investment companies/funds
Bruce Campbell (1)

President, Campbell and Lee Inv...

PricePrice
$33.790
Owned Owned
No

COMMENT

He likes this and the apartment sector in general. Apartments are more affordable housing, and tend to be countercyclical. When the economy goes down, you tend to have people move into more affordable housing. A lot of their Net Operating Income is concentrated in Ontario. Spent a lot of money in the last 5 years on improving their properties, which has resulted in significant increases in rents. If you hold this longer-term, you should be fine. Dividend yield of 3.9%.

investment companies/funds

He likes this and the apartment sector in general. Apartments are more affordable housing, and tend to be countercyclical. When the economy goes down, you tend to have people move into more affordable housing. A lot of their Net Operating Income is concentrated in Ontario. Spent a lot of money in the last 5 years on improving their properties, which has resulted in significant increases in rents. If you hold this longer-term, you should be fine. Dividend yield of 3.9%.

investment companies/funds
Andy Nasr

VP & Investment Strategist, Sentry Investments...

PricePrice
$32.970
Owned Owned
Unknown

COMMENT

Apartment REITs? Apartment REITs are very defensive. If the economy slows down, it actually increases the demand for low income housing, which is what these apartments are. If you see the Canadian economy decline or slip into a recession, you’ll probably see more people migrate into apartments that rent out for a lot less than what it would cost you for a house or a condo. This one has been very well-managed and have spent a lot of money reinvesting back into properties. That has allowed them to affect an increase in rents above the guideline increases that is allowed in Ontario.

investment companies/funds

Apartment REITs? Apartment REITs are very defensive. If the economy slows down, it actually increases the demand for low income housing, which is what these apartments are. If you see the Canadian economy decline or slip into a recession, you’ll probably see more people migrate into apartments that rent out for a lot less than what it would cost you for a house or a condo. This one has been very well-managed and have spent a lot of money reinvesting back into properties. That has allowed them to affect an increase in rents above the guideline increases that is allowed in Ontario.

investment companies/funds
Andy Nasr

VP & Investment Strategist, Sentry Investments...

PricePrice
$33.510
Owned Owned
Unknown

BUY

Wonderful management team that have sold out of their apartments in Ontario.  They have the best apartments across Canada.  They are looking to expand outside of Canada.  It is inexpensive here.  He likes apartments here.

investment companies/funds

Wonderful management team that have sold out of their apartments in Ontario.  They have the best apartments across Canada.  They are looking to expand outside of Canada.  It is inexpensive here.  He likes apartments here.

investment companies/funds
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Manage...

PricePrice
$34.340
Owned Owned
Yes

BUY

They have some exposure to Alberta but most is Ontario, Quebec and BC.  There is very little vacancy.  They have executed incredibly well. He likes the company and its assets.  This one is defensive in nature.  Apartments do well in a real estate downturn.

investment companies/funds

They have some exposure to Alberta but most is Ontario, Quebec and BC.  There is very little vacancy.  They have executed incredibly well. He likes the company and its assets.  This one is defensive in nature.  Apartments do well in a real estate downturn.

investment companies/funds
Paul Gardner, CFA

Partner and Portfolio Manager, Avenue Investment Ma...

PricePrice
$33.350
Owned Owned
Unknown

BUY

He is not a fan of REITs. They generally don’t increase the distributions. To grow they have to issue more capital. They’ve never been the best compounders of capital. However, this one is a wonderful company, and one that pretty much increases distribution every year. They own the best apartments in Canada, and are now looking for growth outside of Canada.

investment companies/funds

He is not a fan of REITs. They generally don’t increase the distributions. To grow they have to issue more capital. They’ve never been the best compounders of capital. However, this one is a wonderful company, and one that pretty much increases distribution every year. They own the best apartments in Canada, and are now looking for growth outside of Canada.

investment companies/funds
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Manage...

PricePrice
$32.580
Owned Owned
Yes

TOP PICK

Canada’s biggest land lord.  They are opening up frontiers in Europe.  It is a wonderfully run company.  Very nice distribution.  Very solid balance sheet.  (Analysts target: $33.15).

investment companies/funds

Canada’s biggest land lord.  They are opening up frontiers in Europe.  It is a wonderfully run company.  Very nice distribution.  Very solid balance sheet.  (Analysts target: $33.15).

investment companies/funds
David Baskin

President, Baskin Wealth Manage...

PricePrice
$31.910
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Dec 18/15. Up 22.55%.) The minute you put in mortgage reforms and try to avoid people overextending themselves on a house, they are going to rent. He is a big fan of renting. It has a great role in society. This is the largest landlord in Ontario, and benefits from that.

investment companies/funds

(A Top Pick Dec 18/15. Up 22.55%.) The minute you put in mortgage reforms and try to avoid people overextending themselves on a house, they are going to rent. He is a big fan of renting. It has a great role in society. This is the largest landlord in Ontario, and benefits from that.

investment companies/funds
Derek Warren

Asst Vice President, Lincluden Investment...

PricePrice
$31.900
Owned Owned
Yes

COMMENT

H&R Reit (HR.UN-T) or Canadian Apartment Properties (CAR.UN-T)?On REITs, it is not the front-page story that kills you, but the story you don’t know that kills you. Everybody knows interest rates are probably going to go up, which may already be priced into some. A lot of them benefit from rising interest rates because it means the economy is improving. These are 2 of the best along with RioCan (REI.UN-T). These are great investments, but are not his best investment idea. If he had a list of 30 stocks, 29 and 30 would be a REIT. You don’t get a lot of dividend increases or capital appreciation. You own them for the income. A younger person’s portfolio should not have a REIT.

investment companies/funds

H&R Reit (HR.UN-T) or Canadian Apartment Properties (CAR.UN-T)?On REITs, it is not the front-page story that kills you, but the story you don’t know that kills you. Everybody knows interest rates are probably going to go up, which may already be priced into some. A lot of them benefit from rising interest rates because it means the economy is improving. These are 2 of the best along with RioCan (REI.UN-T). These are great investments, but are not his best investment idea. If he had a list of 30 stocks, 29 and 30 would be a REIT. You don’t get a lot of dividend increases or capital appreciation. You own them for the income. A younger person’s portfolio should not have a REIT.

investment companies/funds
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Manage...

PricePrice
$30.480
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Nov 12/15. Up 23.09%.) He is really concerned about Toronto prices. This move of mortgage rates going up is very dangerous for housing prices. They are also making it harder for new buyers, which means they have to rent longer, so you want to own the biggest apartment landlord in Ontario.

investment companies/funds

(A Top Pick Nov 12/15. Up 23.09%.) He is really concerned about Toronto prices. This move of mortgage rates going up is very dangerous for housing prices. They are also making it harder for new buyers, which means they have to rent longer, so you want to own the biggest apartment landlord in Ontario.

investment companies/funds
Derek Warren

Asst Vice President, Lincluden Investment...

PricePrice
$30.130
Owned Owned
Yes

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