CA - Automotive Properties: Growth Stalls But That 8% Yield Is Still Good
2024-05-27 05:39:42 ET
Summary
- Auto REIT had a stable Q1-2024 with increased rental revenues and good expense control.
- The REIT has a 100% occupancy rate and a long average lease term.
- We examine the valuation and the dependence on its largest tenant.
All values are in CAD unless noted otherwise.
Automotive Properties Real Estate Investment Trust ( APR.UN:CA ) holds a portfolio spanning 2.9 million of gross leasable area, comprising of 77 investment properties located across major Canadian cities. The "80% exposure to VECTOM" in the slide below refers to Vancouver, Edmonton, Calgary, Toronto, Ottawa and Montreal....
Automotive Properties: Growth Stalls But That 8% Yield Is Still Good