Investment Thesis
Northview Apartment REIT (NPRUF) (TSX:NVU.UN) delivered another quarter of solid earnings in Q4 2018. The REIT saw double-digit growth in its top and bottom lines. However, its shares continue to trade at a discount to its peers. We believe the market continues to overlook at its transformation strategy in the past few years. The company has significantly reduced its exposure in Western Canada and has increased its exposure to Ontario. It also has value creation initiatives to grow its NOI and increase its net asset value. Northview also pays an attractive