The Canadian REITs on our list are expected to generate 18%+ Y/Y increases in cash
SmallCapPower | January 20, 2017: With the Bank of Canada keeping interest rates steady at 0.50%, the Canadian real estate market shows few signs of slowing down. Today, we have identified some Canadian REITs that analysts expect will have the largest increases in cash for distribution to their unitholders.
Automotive Properties Real Estate Investment Trust (TSX: APR.UN) – $10.92
Commercial REITs
Automotive Properties Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. Its portfolio consists of approximately 30 properties, including over 25 Initial Properties and the Toyota Woodland property, the Porsche JLR Edmonton property and the Audi Barrie property. The properties encompass approximately 1,077,810 square feet of gross leasable area (GLA). Its properties contain over 40 automotive dealership facilities and an automotive repair facility, occupying over 40 individual buildings, as well as over four ancillary retail buildings.
- Market Cap: $133 million
- Total Revenue (LTM): $33 million
- Expected Increase In Cash Available for Distribution (Y/Y): 150%
- Price / Funds From Operations Per Share (FY1): 10.33
Milestone Apartments Real Estate Investment Trust (TSX: MST.UN) – $19.66
Residential REITs
Milestone Apartments Real Estate Investment Trust (the REIT) is an unincorporated, open-ended real estate investment trust that invests in, and operates, multifamily garden-style residential properties in the United States. Its portfolio of properties consists of over 70 multifamily garden-style residential properties comprising over 22,550 units that are located in over 10 metropolitan markets throughout the Southeast and Southwest United States.
- Market Cap: $1,582 million
- Total Revenue (LTM): $348 million
- Expected Increase In Cash Available for Distribution (Y/Y): 34%
- Price / Funds From Operations Per Share (FY1): 13.19
Canadian Real Estate Investment Trust (TSX: REF.UN) – $46.58
Commercial REITs
Canadian Real Estate Investment Trust is a Canada-based real estate investment trust. The Company’s objective is to accumulate and manage a portfolio of real estate assets and to offer the benefits of real estate ownership to its unitholders. It operates through three segments: Retail, Industrial and Office. It owns and manages a real estate portfolio, which consists of retail, industrial and office properties throughout Canada. Its portfolio includes over 200 properties, which contains over 32.8 million square feet of gross leasable area, and it has interest at over 24.9 million square feet. Its retail portfolio totals over 9.1 million square feet and is focused on unenclosed retail centers by food stores and other retailers on long-term leases.
- Market Cap: $3,411 million
- Total Revenue (LTM): $430 million
- Expected Increase In Cash Available for Distribution (Y/Y): 32%
- Price / Funds From Operations Per Share (FY1): 14.73
InterRent Real Estate Investment Trust (TSX: IIP.UN) – $7.27
Residential REITs
InterRent Real Estate Investment Trust (InterRent REIT) is an open-ended real estate investment trust (REIT) engaged in the acquisition, ownership, management, leasing and repositioning of multi-residential properties and real estate ventures. It invests in the non-stabilized and redevelopment properties (over 2,790 suites), as well as invests in the stabilized properties (approximately 5,600 suites). Its portfolio consists of approximately 80 properties containing over 8,390 suites.
- Market Cap: $523 million
- Total Revenue (LTM): $95 million
- Expected Increase In Cash Available for Distribution (Y/Y): 25%
- Price / Funds From Operations Per Share (FY1): 19.04
Killam Apartment REIT (TSX: KMP.UN) – $11.96
Residential REITs
Killam Apartment Real Estate Investment Trust (REIT), formerly Killam Properties Inc., is a Canada-based investment trust engaged in owning, operating and developing multi-family apartment buildings and manufactured home communities (MHCs). Its portfolio includes real estate assets located in Atlantic Canada, Ontario and Alberta. Its segments include Apartment segment, MHC segment and Other segment. The Apartment segment acquires, operates, manages and develops multi-family residential properties across Canada. The MHC segment acquires and operates MHC communities in Ontario and Eastern Canada. The Other segment includes over four commercial properties located in Nova Scotia. It owns over 35 MHC sites, also known as land-lease communities or trailer parks, located in Ontario and Atlantic Canada.
- Market Cap: $826 million
- Total Revenue (LTM): $174 million
- Expected Increase In Cash Available for Distribution (Y/Y): 18%
- Price / Funds From Operations Per Share (FY1): 13.83
