Monday s analyst upgrades and downgrades - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
SUMMARY OF Q1- 2021 RESULTS OF OPERATIONS
Strong Operating Results
CAPREIT has maintained a very high level of rent collection, with over 99% of rents collected year to date
On turnovers, monthly residential rents for the three months ended March 31, 2021 increased by 3.4% on 4.4% of the Canadian portfolio, compared to an increase of 13.5% on 3.3% of the Canadian portfolio for the three months ended March 31, 2020. The reduced increases are primarily due to the impact of the COVID-19 pandemic on the overall rental market.
On renewals, monthly residential rents for the three months ended March 31, 2021 increased by 0.9% on 9.3% of the Canadian portfolio, compared to 2.2% on 17.6% of the Canadian portfolio for the three months ended March 31, 2020. The reduced increases are primarily due to rent freezes enacted as a result of the COVID-19 pandemic
Alphamin, CIBC, Chartwell at 52-Week Highs on News Alphamin Resources Corp. (V.AFM) hit a new 52-week high of 68 cents on Friday. Alphamin announced Record Q1 EBITDA of $36,5m , at a tin price of $23,083/t (Current: ~$29,000/t.
Canadian Imperial Bank of Commerce (T.CM) hit a new 52-week high of $130.79 on Friday. CIBC has outperformed much of the Canadian banking sector due to the resilience of its underlying business. A cost-to-income ratio of 54.9% in Q1 2021 reflects improvement in its operational efficiency.The economic recovery and a strong capital markets outlook should drive further growth in near-term earnings.
Chartwell Retirement Residences (T.CSH.UN) hit a new 52-week high of $12.97 on Friday. Chartwell announces that Institutional Shareholder Services Inc. (“ISS”), an independent proxy advisory firm that provides voting recommendations to shareholders, has issued a positive review of the Company s key resolutions relating to their upcoming Annual Me
Share:
TORONTO, March 15, 2021 (GLOBE NEWSWIRE) Canadian Apartment Properties Real Estate Investment Trust ( CAPREIT ) (TSX – CAR.UN) announced today its March 2021 monthly distribution in the amount of $0.11500 per Unit (or $1.38 on an annualized basis). The March distribution will be payable on April 15, 2021 to Unitholders of record on March 31, 2021.
To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.
CAPREIT is Canada s largest publicly-traded provider of quality rental housing. CAPREIT currently owns or has interests in, and manages, approximately 67,600 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, in the Netherlands and Ireland. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions pe
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