CAR's cash flow per share did beat estimates (marginally). The payout ratio is very good at 58.5% and it does have a good record of distribution increases. It raised in June and there is certainly potential for more hikes, maybe even before year end. Historically, the REIT has been one of the safest and best-performing. This has given it a premium valuation in the market, which it still has. But that means when things are not perfect it can sell off a bit. It is down less than 1% this year, but we would still consider it attractive for safe income (3.67% yield). In the residential space yields are low (BEI.UN 2.30% for example). Like all REITs, we would not consider it a 'growth' security. We would be fine owning this for income, though, and sentiment could improve with lower interest rates ahead.
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