Canadian Apartment Properties: We Still Prefer Northview When Playing The North

georgeclerk Summary We maintain our Hold rating on Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN:CA / OTC:CDPYF). While operational performance has remained solid, we believe there are far more attractive risk/return profiles within Canadian residential REITs, such as Northview Residential REIT. The current price's proximity to our NAV estimate leads us to believe that unit performance over the short term should follow NOI and FFO growth (i.e., sector performance). We need to se ...