Canadian Apartment REIT: A 4.5% Dividend Yield With Ample Coverage

Summary

  • Canadian Apartment Properties REIT trades at 15x AFFO and nearly 40% below NAV, offering compelling value.
  • Q1 AFFO per share declined just 1.5% to C$0.513, with a strong 70% payout ratio and robust distribution coverage.
  • Active buybacks and retained AFFO (~C$100 million/year) support growth initiatives and the development pipeline.
  • New CEO Brad Cutsey brings experience, potentially positioning CDPYF for improved market valuation and strategic execution.
Sailboats and Luxury Yachts Moored at False Creek Marina on a Sunny Day

g01xm/iStock via Getty Images

Introduction

The share price of Canadian Apartment REIT (CDPYF) (CAR.UN:CA) remained weak after my previous article was published in October of last year. The Canadian residential REIT has now published the financial results of three additional quarters, so

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About CDPYF Stock

SymbolLast Price% Chg
CDPYF
24.61-0.80%
Post24.57-0.15%
Chart
Combination chart with 2 data series.
The chart has 1 X axis displaying Time. Data ranges from 2026-06-22 09:30:00 to 2026-06-30 15:50:00.
The chart has 1 Y axis displaying values. Data ranges from 24.27 to 25.12.
End of interactive chart.
FFO (TTM)
1.83
PE (TTM)
828.97
Div Rate
$1.12
Yield
4.52%
Short Interest
-
Market Cap
$3.85B
Volume
6,205

More on CDPYF

Related Stocks

SymbolLast Price% Chg
CDPYF
24.61-0.80%
Post:24.57-0.15%
CAR.UN:CA
34.88-1.02%
Post:34.88
Chart
Line chart with 2 lines.
The chart has 1 X axis displaying Time. Data ranges from 2026-06-22 09:30:00 to 2026-06-30 16:00:00.
The chart has 1 Y axis displaying values. Data ranges from -0.55 to 3.37.
End of interactive chart.
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