Investment Thesis
Canadian Apartment REIT (CDPYF, TSX:CAR.UN) delivered strong Q1 2019 earnings thanks to strong demand. We believe the REIT will continue to perform well in 2019 thanks to strong market fundamentals. Canadian Apartment REIT currently trades at a premium to its peers due to its excellent track record of growth. It has also consistently increased its dividend in the past and has a safe payout ratio. However, the REIT's strong growth rate may moderate due to expected lower turnover rates in its portfolio. We believe investors may want to wait for a