Stock CAR.UN CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST
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Financials Canadian Apartment Properties Real Estate Investment Trust

Equities

CAR.UN

CA1349211054

Residential REITs

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-05-28 pm EDT 		5-day change 1st Jan Change
43.64 CAD -1.78% Intraday chart for Canadian Apartment Properties Real Estate Investment Trust -3.60% -10.57%
May. 15 Canadian Apartment Properties Real Estate Investment Trust Announces Distribution for May 2024, Payable on June 17, 2024 CI
May. 09 Transcript : Canadian Apartment Properties Real Estate Investment Trust, Q1 2024 Earnings Call, May 09, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 8,986 8,597 10,502 7,343 8,264 7,505 -
Enterprise Value (EV) 1 8,986 8,597 10,502 14,347 8,264 14,632 14,624
P/E ratio 7.06 x 9.27 x 7.49 x 547 x -20.2 x 14.5 x 16.2 x
Yield - 2.76% 2.35% 3.4% 2.97% 3.41% 3.48%
Capitalization / Revenue 11.6 x 9.74 x 11.3 x 7.29 x 7.76 x 6.69 x 6.4 x
EV / Revenue 11.6 x 9.74 x 11.3 x 14.2 x 7.76 x 13 x 12.5 x
EV / EBITDA 18.6 x 15.4 x 18.3 x 23.4 x 13 x 21.3 x 19.9 x
EV / FCF 42,334,668 x 36,353,027 x -18,794,369 x -51,608,107 x 125,735,764 x - -
FCF Yield 0% 0% -0% -0% 0% - -
Price to Book - - - - - - -
Nbr of stocks (in thousands) 169,524 171,983 175,145 172,046 169,339 168,924 -
Reference price 2 53.01 49.99 59.96 42.68 48.80 43.64 43.64
Announcement Date 2/26/20 2/24/21 2/23/22 2/22/23 2/22/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 777.9 882.6 933.1 1,007 1,065 1,122 1,173
EBITDA 1 482 559.7 575.2 612.4 636.2 685.6 733.5
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) 1 - 954.5 1,474 3.603 -488.1 457.5 463.3
Net income 1 1,195 925.9 1,393 13.64 -411.6 519.9 309
Net margin 153.68% 104.9% 149.26% 1.35% -38.63% 46.36% 26.33%
EPS 2 7.512 5.393 8.003 0.0780 -2.419 3.000 2.700
Free Cash Flow 212.3 236.5 -558.8 -278 65.72 - -
FCF margin 27.29% 26.79% -59.88% -27.6% 6.17% - -
FCF Conversion (EBITDA) 44.04% 42.25% - - 10.33% - -
FCF Conversion (Net income) 17.76% 25.54% - - - - -
Dividend per Share 2 - 1.380 1.409 1.450 1.450 1.490 1.518
Announcement Date 2/26/20 2/24/21 2/23/22 2/22/23 2/22/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 240.7 246.6 251.7 252 256.9 260.9 263.8 268.4 272.2 275.8 275.3 279.8 282.5 279.9 281.6
EBITDA 1 - - - - - - - 164 160.4 - 171.1 174.5 170.8 - -
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) 1 - - - 66.06 124.9 -148.4 25.71 -362.5 -2.835 184.3 113.8 121.2 113.8 114.8 117
Net income 1 - - - 63.16 155.5 -103.2 39.98 -357.5 9.212 182.1 43 35.8 18.1 9.5 -14.9
Net margin - - - 25.06% 60.53% -39.56% 15.16% -133.22% 3.38% 66.03% 15.62% 12.79% 6.41% 3.39% -5.29%
EPS - - - - - - - - - - - - - - -
Dividend per Share 2 - - - - - 0.3620 - - - - 0.3800 0.3800 0.3900 - -
Announcement Date 2/23/22 5/16/22 8/10/22 11/8/22 2/22/23 5/12/23 8/3/23 11/8/23 2/22/24 5/8/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - 7,004 - 7,127 7,119
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - 11.44 x - 10.4 x 9.706 x
Free Cash Flow 212 236 -559 -278 65.7 - -
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets 1 - - - - - - -
Book Value Per Share - - - - - - -
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 2/26/20 2/24/21 2/23/22 2/22/23 2/22/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Canadian Apartment Properties Real Estate Investment Trust

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
43.64 CAD
Average target price
56 CAD
Spread / Average Target
+28.32%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Residential REITs

1st Jan change Capi.
CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST Stock Canadian Apartment Properties Real Estate Investment Trust
-10.57% 5.5B
AVALONBAY COMMUNITIES, INC. Stock AvalonBay Communities, Inc.
+2.69% 27.74B
EQUITY RESIDENTIAL Stock Equity Residential
+5.69% 24.9B
INVITATION HOMES INC. Stock Invitation Homes Inc.
-0.12% 21.12B
ESSEX PROPERTY TRUST, INC. Stock Essex Property Trust, Inc.
+2.98% 16.66B
MID-AMERICA APARTMENT COMMUNITY, INC. Stock Mid-America Apartment Community, Inc.
-3.09% 15.56B
SUN COMMUNITIES, INC. Stock Sun Communities, Inc.
-13.06% 14.6B
AMERICAN HOMES 4 RENT Stock American Homes 4 Rent
-0.70% 13.24B
UDR INC. Stock UDR Inc.
-0.21% 12.83B
EQUITY LIFESTYLE PROPERTIES, INC. Stock Equity LifeStyle Properties, Inc.
-13.17% 11.53B
Residential REITs
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  4. Financials Canadian Apartment Properties Real Estate Investment Trust