Core Insights - CAPREIT reported its operating and financial results for the three and nine months ended September 30, 2025, highlighting a disciplined execution across strategic, operational, and financial priorities aimed at increasing free cash flow and driving strong earnings for Unitholders [1][8] Portfolio Performance - As of September 30, 2025, CAPREIT's total portfolio consisted of 45,028 suites, a decrease from 48,696 suites as of December 31, 2024, and 63,359 suites as of September 30, 2024 [2] - The fair value of investment properties was approximately $14.48 billion, down from $14.87 billion as of December 31, 2024, and $15.06 billion as of September 30, 2024 [2] - Occupancy rates for the Canadian residential portfolio were 97.8%, slightly up from 97.5% in the previous quarter, while the Netherlands residential portfolio occupancy was 90.8%, down from 94.6% [2][17] Financial Performance - Operating revenues for Q3 2025 were $252.32 million, a decrease of 10.7% from $282.44 million in Q3 2024, while net operating income (NOI) was $167.82 million, down 11.4% from $189.38 million [4][26] - Funds From Operations (FFO) per unit for Q3 2025 was $0.663, a slight increase of 0.6% compared to $0.659 in Q3 2024 [4][8] - The FFO payout ratio increased to 58.6% in Q3 2025 from 56.2% in Q3 2024 [4] Strategic Initiatives - CAPREIT's capital recycling program has improved performance, with proceeds from targeted dispositions reinvested into high-quality, mid-market Canadian properties [8] - The company disposed of 1,559 residential suites and two commercial properties for a gross sale price of $645.9 million in Q3 2025, contributing to a total of 4,594 suites disposed of for $1.19 billion in the nine months ended September 30, 2025 [11][14] - CAPREIT utilized its Normal Course Issuer Bid (NCIB) program to repurchase approximately 0.6 million Trust Units at an average price of $43.36 per unit in Q3 2025, enhancing returns for Unitholders [11][8] Operational Metrics - The average monthly rent (AMR) for the Canadian residential portfolio increased by 3.6% for Q3 2025, compared to a 7.4% increase in Q3 2024 [10][16] - The same property NOI margin reached 66.4% in Q3 2025, up from 65.6% in Q3 2024, indicating improved operational efficiency [14][8] - The weighted average gross rent per square foot for Canadian residential suites was approximately $2.04 as of September 30, 2025, up from $1.94 a year earlier [18] Financing Metrics - Total debt to gross book value was 37.7% as of September 30, 2025, down from 38.4% as of December 31, 2024 [6] - The weighted average mortgage effective interest rate increased to 3.26% from 3.11% in the previous quarter [6] - CAPREIT had approximately $102.21 million in cash and cash equivalents as of September 30, 2025, down from $136.24 million at the end of 2024 [6]

Distribution Announcement - CAPREIT announced its October 2025 monthly distribution of $0.12917 per Unit, equating to an annualized amount of $1.55, payable on November 17, 2025, to Unitholders of record as of October 31, 2025 [1] Company Overview - CAPREIT is Canada's largest publicly traded provider of quality rental housing, owning approximately 45,400 residential apartment suites and townhomes across Canada and the Netherlands, with a total fair value of approximately $14.5 billion [2] - The company has increased its monthly cash distributions per Unit by 117% since its Initial Public Offering in May 1997 [2]

Core Viewpoint - CAPREIT announced its August 2025 monthly distribution of $0.12916 per Unit, equating to an annualized amount of $1.55, payable on September 15, 2025 [1] Group 1: Company Overview - CAPREIT is Canada's largest publicly traded provider of quality rental housing, owning approximately 45,400 residential apartment suites and townhomes across Canada and the Netherlands as of June 30, 2025 [2] - The total fair value of CAPREIT's properties is approximately $14.5 billion, excluding around $0.6 billion of assets held for sale [2] - Since its Initial Public Offering in May 1997, CAPREIT has increased its monthly cash distributions per Unit by 117% [2]

Group 1 - CAPREIT announced a monthly distribution of $0.12917 per Unit for July 2025, equating to an annualized amount of $1.55, payable on August 15, 2025 [1] - As of March 31, 2025, CAPREIT owns approximately 46,800 residential apartment suites and townhomes across Canada and the Netherlands, with a total fair value of approximately $14.9 billion [2] - Since its Initial Public Offering in May 1997, CAPREIT has increased its monthly cash distributions per Unit by 117% [2]

Core Points - CAPREIT announced a monthly distribution of $0.12916 per Unit for May 2025, equating to an annualized amount of $1.55, payable on June 16, 2025 [1] - CAPREIT is the largest publicly traded provider of quality rental housing in Canada, owning approximately 46,800 residential apartment suites and townhomes across Canada and the Netherlands, with a total fair value of about $14.9 billion as of March 31, 2025 [2] - Since its Initial Public Offering in May 1997, CAPREIT has increased its monthly cash distributions per Unit by 117% [2]