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Canadian Apartment (CAR.UN) AI Stock Analysis
Canadian Apartment
(TSX:CAR.UN)
The score is held up mainly by steady cash generation and a generally solid REIT balance sheet, but is weighed down by deteriorating recent profitability (TTM net loss/revenue slippage), weak technical momentum (below major moving averages with negative MACD), and an exceptionally high P/E despite a moderate dividend yield.
Canadian Apartment (CAR.UN) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 4.73B
- Dividend Yield
- 5.00%
- Average Volume (3M)
- 503.90K
- Price to Earnings (P/E)
- -36.5
- Beta (1Y)
- 0.71
- Revenue Growth
- -7.18%
- EPS Growth
- -270.79%
- Country
- Canada
- Employees
- 1,076
- Sector
- Real Estate
- Sector Strength
- 65
- Industry
- REIT - Residential
Canadian Apartment Business Overview & Revenue Model
Company Description
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a prominent real estate investment trust operating within Canada. Its extensive portfolio includes approximately 57,000 residential units throughout Canada, such as townhomes and...
How the Company Makes Money
CAPREIT primarily makes money by owning and operating rental housing and earning recurring rental income from residents. Its revenue model is centered on: 1) Residential rent (core revenue stream) - Monthly rent collected from tenants in multi-suite...
Canadian Apartment Earnings Call Summary
The earnings call reflects strong operational and financial performance, characterized by high occupancy rates, rent growth, and effective capital recycling strategies. Despite increased interest expenses and maintenance costs, the company demonstrated robust financial strength and a strategic focus on optimizing their portfolio. Overall, the sentiment is positive with a clear emphasis on growth and stability.
Q3-2024 Updates
Positive Updates
Negative Updates
Company Guidance
During the Canadian Apartment Properties REIT (CAPREIT) Q3 2024 earnings call, a robust set of metrics highlighted significant operational and strategic achievements. CAPREIT reported a high occupancy rate of 98% with an average rent of $1,617 per month. Rent growth led to a 5.2% increase in total portfolio operating revenues, with a 6.1% rise in NOI, expanding the margin by 60 basis points to 67.1%. Despite higher repairs and maintenance costs, diluted FFO per unit increased by 3.3% to $0.659 for the quarter. Over the first nine months, rent growth was 6.4%, and diluted FFO per unit rose by 6.5%, maintaining a conservative payout ratio of 57.3%. CAPREIT's strategic repositioning involved $1 billion in Canadian rental property transactions and $219 million in European property sales, with further dispositions planned, including a $740 million MHC portfolio sale set for closing in Q4 2024. The company's total debt to gross book value ratio improved to 40.9%, and a strategic CapEx program reduced capital spend by 7% year-over-year, enhancing cash flow generation.
Canadian Apartment Financial Statement Overview
Summary
Financials are serviceable but uneven. Cash generation is a strength with consistently positive operating cash flow and free cash flow (Cash Flow Score 66), and the balance sheet is generally solid for a REIT though leverage is meaningful and debt levels are high (Balance Sheet Score 63). The main drag is weakening profitability and revenue in the TTM period, including a swing to net loss and a negative growth trajectory (Income Statement Score 52).
Income Statement
52NeutralBalance Sheet
63PositiveCash Flow
66Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 989.93M | 1.00B | 1.11B | 1.07B | 1.01B | 933.14M |
| Gross Profit | 588.79M | 591.63M | 672.03M | 630.41M | 592.44M | 609.99M |
| EBITDA | 157.57M | 411.95M | 552.38M | 587.78M | 189.17M | 1.66B |
| Net Income | -131.83M | 197.05M | 292.74M | -411.57M | 13.64M | 1.39B |
Balance Sheet | ||||||
| Total Assets | 14.76B | 15.13B | 15.58B | 16.97B | 17.74B | 17.71B |
| Cash, Cash Equivalents and Short-Term Investments | 61.89M | 51.74M | 146.76M | 35.22M | 51.68M | 73.41M |
| Total Debt | 6.13B | 6.11B | 6.04B | 7.11B | 7.01B | 6.46B |
| Total Liabilities | 6.41B | 6.37B | 6.55B | 7.69B | 7.74B | 7.31B |
| Stockholders Equity | 8.34B | 8.76B | 9.03B | 9.28B | 10.00B | 10.40B |
Cash Flow | ||||||
| Free Cash Flow | 181.26M | 327.24M | 399.04M | 308.09M | 261.56M | 252.01M |
| Operating Cash Flow | 422.69M | 568.82M | 648.85M | 615.92M | 598.03M | 551.43M |
| Investing Cash Flow | 303.86M | 441.70M | 1.74B | -138.47M | -502.97M | -1.11B |
| Financing Cash Flow | -721.37M | -1.11B | -2.29B | -495.23M | -132.32M | 512.50M |
Canadian Apartment Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CAR.UN, the sentiment is Negative. The current price of 31.01 is below the 20-day moving average (MA) of 31.25, below the 50-day MA of 31.76, and below the 200-day MA of 34.32, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 44.33 is Neutral, neither overbought nor oversold. The STOCH value of 7.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:CAR.UN.
Canadian Apartment Peers Comparison
Overall Rating
TSE:MRG.UN64Neutral
TSE:BEI.UN60Neutral
TSE:KMP.UN57Neutral- TSE:CAR.UN52Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 65Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
| TSE:MRG.UN | 64Neutral | CAD 756.61M | 6.71 | 5.48% | 5.45% | -1.02% | -6.98% |
| TSE:BEI.UN | 60Neutral | CAD 3.05B | -92.28 | -0.66% | 2.81% | 4.56% | -110.12% |
| TSE:KMP.UN | 57Neutral | CAD 2.05B | 285.00 | 0.25% | 4.21% | 4.80% | -99.27% |
| TSE:CAR.UN | 52Neutral | CAD 4.77B | -36.48 | -1.53% | 5.00% | -7.18% | -270.79% |
* Real Estate Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:CAR.UN | Canadian Apartment | 31.01 | -4.63 | -12.98% | |
| TSE:KMP.UN | Killam Apartment REIT Un | 17.10 | 0.63 | 3.82% | |
| TSE:MRG.UN | Morguard NA REIT UN | 14.50 | -2.14 | -12.86% | |
| TSE:BEI.UN | Boardwalk Real Estate Investment Trust | 61.83 | 1.03 | 1.70% |
Canadian Apartment Corporate Events
CAPREIT Declares August 2026 Monthly Distribution for Unitholders
PositiveCanadian Apartment Properties Real Estate Investment Trust, Canada’s largest publicly traded rental housing provider, owns roughly 45,400 apartment suites and townhomes across Canada and the Netherlands with a portfolio valued at about $14.4 bi...
CAPREIT Posts Q2 Loss as Revenues Slip and Leverage Rises
NegativeCanadian Apartment Properties REIT reported a modest contraction in its Canadian residential portfolio, with the number of suites declining year over year and the fair value of investment properties edging lower. Occupancy remained high at 97.5%, whi...
CAPREIT Posts Q2 Loss Amid Higher Leverage but Keeps Distributions Steady
NegativeCanadian Apartment Properties REIT reported softer operating revenues and net operating income for the second quarter of 2026 compared with a year earlier, even as same-property NOI showed modest growth. The trust’s Canadian residential portfol...
Methanex Declares Quarterly Dividend of US$0.185 per Share
PositiveMethanex Corporation’s board of directors has declared a quarterly dividend of US$0.185 per share, reinforcing the company’s ongoing capital-return policy to shareholders. The dividend is payable on September 30, 2026, to common sharehold...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 10, 2026