CA - Chartwell Retirement Residences: Leading The Sector Rebound

2025-02-22 08:00:00 ET

Summary

• Chartwell has boosted occupancy by nearly 10% since 2022 as it completes its recovery from the COVID-19 pandemic.
• The REIT is well positioned to benefit from the constructive set-up of demographic growth and new construction starts at multi-year lows.
• Recent acquisitions and a robust portfolio optimization process have led to organic growth in same property NOI.

Author's Note: All funds are in Canadian currency unless otherwise noted.

Investment Thesis

After a sharp decline during the COVID-19 pandemic, retirement REITs have largely recovered. Since I last recommended Chartwell Retirement Residences ( CSH.UN:CA ), ( CWSRF ) in May 2023, units are up 80%, well ahead of the S&P 500’s return of 47% over the same period. Despite the impressive rebound, there are several catalysts to support additional upside for this REIT....

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