The latest update is out from Canadian Apartment ( ($TSE:CAR.UN) ).
CAPREIT has announced a strategic shift in its portfolio with the completion of key acquisitions and dispositions totaling $194 million. The company sold non-core assets in Brampton and Charlottetown while acquiring newly constructed rental properties in Vancouver and Edmonton. These transactions bolster CAPREIT’s presence in Western Canada, aligning with its strategy of upgrading its portfolio with properties that offer both value and growth potential. The moves are part of a broader capital reallocation plan aimed at enhancing the company’s core platform and supporting the Canadian housing market.
More about Canadian Apartment
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a prominent player in the real estate investment industry, focusing on owning and managing rental apartment properties primarily in Canada. The company aims to enhance its portfolio by acquiring high-quality and strategically located properties while divesting non-core assets.
YTD Price Performance: -4.14%
Average Trading Volume: 540,478
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$6.61B
See more insights into CAR.UN stock on TipRanks’ Stock Analysis page.