Canadian Apartment (TSE:CAR.UN) has released an update.
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has reported a robust start to 2024, with a notable increase in its first-quarter operating revenues to $275.8 million and net operating income rising to $177 million from the previous year. The company also saw an improvement in its net income, recording a significant profit compared to a loss in the same quarter of 2023, and maintained a healthy funds from operations (FFO) payout ratio of 59.5%. Occupancy rates remained high across both Canadian and Netherlands portfolios, contributing to a steady operational performance.
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