Get Safe Residential Rent With 5-9% Yields | The Motley Fool Canada: "Northview Apartment REIT (TSX:NVU.UN) used to be called Northern Property REIT with the ticker symbol TSX:NPR.UN, until it acquired True North Apartment REIT this year.
After the acquisition Northview Apartment REIT is now Canada’s third-largest publicly traded multi-family REIT with 24,000 residential suites across 60 markets in Canada. Anyone is welcome to become a part owner to bank on its 8.8% yield.
Safe distribution
The REIT has maintained distributions since 2002. Although it didn’t increase distributions every year, it managed to raise it at a compound annual growth rate of 3% from 2002 to 2014. Additionally, its payout ratio reduced from 91% in 2002 to 70% today. A steadily increasing distribution and a reduction in payout ratio make its distribution safer.
Valuation
Northview Apartment’s book value is $25.5 per share. At $18.5, the REIT is discounted by roughly 27% from its book value."
'via Blog this'
No comments:
Post a Comment