Canadian Apartment Properties Real Estate Investment Trust
Market Cap
CA$8.7b
Last Updated
2019/10/23 23:34 UTC
Data Sources
Company Financials +
Executive Summary
CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada and the Netherlands.
Snowflake
Fundamentals
Established dividend payer with acceptable track record.
Share Price & News
How has Canadian Apartment Properties Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
-2.1%
CAR.UN
-0.4%
CA REITs
0.2%
CA Market
1 Year Return
15.8%
CAR.UN
16.2%
CA REITs
3.5%
CA Market
Return vs Industry: CAR.UN matched the Canadian REITs industry which returned 16.2% over the past year.
Return vs Market: CAR.UN exceeded the Canadian Market which returned 3.5% over the past year.
Shareholder returns
| CAR.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.1% | -0.4% | 0.2% |
| 30 Day | -0.5% | 0.5% | -3.3% |
| 90 Day | 10.6% | 5.0% | -1.9% |
| 1 Year | 19.0%15.8% | 22.5%16.2% | 7.3%3.5% |
| 3 Year | 101.8%82.6% | 40.8%18.5% | 14.7%4.4% |
| 5 Year | 161.9%118.4% | 65.8%23.7% | 26.2%7.7% |
Price Volatility Vs. Market
How volatile is Canadian Apartment Properties Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Do Directors Own Canadian Apartment Properties Real Estate Investment Trust (TSE:CAR.UN) Shares?2 months ago | Simply Wall St
There's A Lot To Like About Canadian Apartment Properties Real Estate Investment Trust's (TSE:CAR.UN) Upcoming 0.2% Dividend3 months ago | Simply Wall St
Who Has Been Selling Canadian Apartment Properties Real Estate Investment Trust (TSE:CAR.UN) Shares?Valuation
Is Canadian Apartment Properties Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
6.62x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CAR.UN (CA$54.24) is trading above our estimate of fair value (CA$42.47)
Significantly Below Fair Value: CAR.UN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CAR.UN is good value based on its PE Ratio (6.6x) compared to the REITs industry average (9.8x).
PE vs Market: CAR.UN is good value based on its PE Ratio (6.6x) compared to the Canadian market (13.7x).
Price to Earnings Growth Ratio
PEG Ratio: CAR.UN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: CAR.UN is overvalued based on its PB Ratio (1.2x) compared to the CA REITs industry average (1x).
Next Steps
Future Growth
How is Canadian Apartment Properties Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-26.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CAR.UN's earnings are forecast to decline over the next 3 years (-26.8% per year).
Earnings vs Market: CAR.UN's earnings are forecast to decline over the next 3 years (-26.8% per year).
High Growth Earnings: CAR.UN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: CAR.UN's revenue (5.9% per year) is forecast to grow faster than the Canadian market (5.5% per year).
High Growth Revenue: CAR.UN's revenue (5.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CAR.UN's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Canadian Apartment Properties Real Estate Investment Trust performed over the past 5 years?
33.1%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: CAR.UN's earnings have grown significantly by 33.1% per year over the past 5 years.
Accelerating Growth: CAR.UN's earnings growth over the past year (28.7%) is below its 5-year average (33.1% per year).
Earnings vs Industry: CAR.UN earnings growth over the past year (28.7%) exceeded the REITs industry -0.1%.
Return on Equity
High ROE: CAR.UN's Return on Equity (17.1%) is considered low.
Return on Assets
ROA vs Industry: CAR.UN has a higher Return on Assets than the REITs industry average last year.
Return on Capital Employed
ROCE Improving: CAR.UN's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Canadian Apartment Properties Real Estate Investment Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: CAR.UN has a high level of physical assets or inventory.
Debt Coverage by Assets: CAR.UN's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: CAR.UN's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if CAR.UN has a sufficient allowance for bad loans.
Low Risk Liabilities: CAR.UN reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if CAR.UN has an acceptable proportion of non-loan assets held.
Low Risk Deposits: CAR.UN has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if CAR.UN has an appropriate level of bad loans.
Next Steps
Dividend
What is Canadian Apartment Properties Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
2.54%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Canadian Apartment Properties Real Estate Investment Trust before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: CAR.UN's dividend (2.54%) is higher than the bottom 25% of dividend payers in the Canadian market (1.98%).
High Dividend: CAR.UN's dividend (2.54%) is low compared to the top 25% of dividend payers in the Canadian market (5.92%).
Stable Dividend: CAR.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: CAR.UN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (46.6%), CAR.UN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CAR.UN's dividends in 3 years are forecast to be thoroughly covered by earnings (0.4% payout ratio).
Next Steps
Management
What is the CEO of Canadian Apartment Properties Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?
1.4yrs
Average management tenure
CEO
Mark Kenney 0
0.6yrs
Tenure
CA$1,632,918
Compensation
Mr. Mark Kenney has been President of Canadian Apartment Properties Real Estate Investment Trust since November 14, 2018 and serves as its Chief Executive Officer since March 27, 2019. Mr. Kenney also serv ...
CEO Compensation Analysis
Compensation vs. Market: Mark has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the Canadian market.
Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.
Management Age and Tenure
1.4yrs
Average Tenure
Experienced Management: CAR.UN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
Board Age and Tenure
6.4yrs
Average Tenure
65yo
Average Age
Experienced Board: CAR.UN's board of directors are considered experienced (6.4 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Senior Key Executive Executive Vice President of Operations |
| Shares | 650 |
| Max Price | CA$49.65 |
| Entity | Individual |
| Role | Member of the Board of Directors |
| Shares | 1,500 |
| Max Price | CA$49.00 |
| Entity | Individual |
| Role | Senior Key Executive Executive Vice President of Operations |
| Shares | 3,175 |
| Max Price | CA$50.10 |
| Entity | Individual |
| Role | Chief Financial Officer Chief Financial Officer |
| Shares | 9,614 |
| Max Price | CA$50.30 |
| Entity | Individual |
| Role | Member of the Board of Directors |
| Shares | 4,000 |
| Max Price | CA$45.50 |
| Entity | Individual |
| Shares | 2,000 |
| Max Price | CA$46.88 |
Ownership Breakdown
Management Team
Mark Kenney
CEO, President & Director
- Tenure: 0.6yrs
- Compensation: CA$1.63m
Patti Baker
Managing Director
- Tenure: 0yrs
Gobal Mailwaganam
MD and Director of Housing & Municipal Affairs
- Tenure: 0yrs
Trish MacPherson
Executive Vice President of Operations
- Tenure: 0yrs
Jodi Lieberman-zbar
Chief Human Resources Officer
- Tenure: 0yrs
Corinne Pruzanski
General Counsel & Corporate Secretary
- Tenure: 0yrs
Scott Cryer (46yo)
Chief Financial Officer
- Tenure: 8.3yrs
- Compensation: CA$1.11m
Judy Harkai
Managing Director
- Tenure: 0yrs
Carmen Perez
Managing Director
- Tenure: 0yrs
Stephen Co
Vice President of Accounting
- Tenure: 1.4yrs
Board Members
Michael Stein (68yo)
Chairman of the Board
- Tenure: 22.8yrs
- Compensation: CA$270.00k
Mark Kenney
CEO, President & Director
- Tenure: 0.6yrs
- Compensation: CA$1.63m
Harold Burke (72yo)
- Tenure: 9.4yrs
- Compensation: CA$131.25k
Poonam Puri (47yo)
- Tenure: 0yrs
Gina Cody (62yo)
- Tenure: 2.4yrs
- Compensation: CA$170.00k
Elaine Todres (69yo)
- Tenure: 6.4yrs
- Compensation: CA$195.00k
Jamie Schwartz (43yo)
- Tenure: 1.6yrs
- Compensation: CA$129.39k
Company Information
Canadian Apartment Properties Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Canadian Apartment Properties Real Estate Investment Trust
- Ticker: CAR.UN
- Exchange: TSX
- Founded: 1997
- Industry: Residential REITs
- Sector: Real Estate
- Market Cap: CA$8.679b
- Shares outstanding: 160.02m
- Website: https://www.caprent.com
Number of Employees
Location
- Canadian Apartment Properties Real Estate Investment Trust
- 11 Church Street
- Suite 401
- Toronto
- Ontario
- M5E 1W1
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CAR.UN | TSX (The Toronto Stock Exchange) | Yes | Trust Units | CA | CAD | May 1998 |
| CDPY.F | OTCPK (Pink Sheets LLC) | Yes | Trust Units | US | USD | May 1998 |
| CARUN N | BMV (Bolsa Mexicana de Valores) | Yes | Trust Units | MX | CAD | May 1998 |
Biography
CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/23 23:34 |
| End of Day Share Price | 2019/10/23 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.