Investment Q&A

• Chartwell Retirement Residences (CSH.UN $21.26)
  • $21.26 P/E (TTM): 105.15X Cap: $6.75B
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• Extendicare Inc. (EXE $29.91)
  • $29.91 P/E (TTM): 27.15X Cap: $2.85B
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• Sienna Senior Living Inc. (SIA $23.27)
  • $23.27 P/E (TTM): 47.61X Cap: $2.47B
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Q: Morning Troops. Years ago I bought EXE at around $7.00 and recently sold at $20.00, thinking that it wouldn't be able to match the huge run-up it had in 2025. Turns out I may have been wrong and I would like to get back into the senior care space. My question is; of the main players in the field, which one would you favour now and where do you see the industry going in the short to medium term. Cheers.

Upvote 1

Read Answer Asked by Neil on April 30, 2026

• BMO Equal Weight REITs Index ETF (ZRE $23.70)
  • $23.70 P/E (TTM): 25.68X Cap: $619M
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Q: Hi,

I noticed in March that this ETF reduced their payout for March and April from 8.9c to 8c.

Is that normal for the payout to change during the year?

Upvote 1

Read Answer Asked by Kelly on April 29, 2026

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $36.53)
  • $36.53 P/E (TTM): 29.1X Cap: $5.63B
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Q: I ve held this stock in my RRSP for a little growth and dividend for 10 years. I already have DIR.UN. is there a good replacement.

Thanks

Upvote 3

Read Answer Asked by Greg on April 29, 2026

• GO Residential Real Estate Investment Trust Trust Units (GO.U $10.45)
  • $10.45 Cap: $567M
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Q: With the price drop since it’s IPO, do you think it is fairly valued now or has more downside ahead?

Upvote 2

Read Answer Asked by Mark on April 29, 2026

• Choice Properties Real Estate Investment Trust (CHP.UN $15.15)
  • $15.15 Cap: $10.94B
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Q: Hi 5i,
May I get your opinion on the CHP transaction to acquire $5.0B of First Capital REIT assets. Can you list some metrics that makes it attractive for CHP unit holders going forward?
Thank so much!

Upvote 4

Read Answer Asked by Dennis on April 21, 2026

Q: Retirement Homes: for a person looking at this segment of the market and expecting growth to accelerate in the years, could you provide a list of 3 companies that you consider best of breed and positioned for aggressive growth and earnings in the years.

Can you also provide 2 ETF s that might be a better way to invest in this area.

Thanks

Upvote 7

Read Answer Asked by Donald on April 20, 2026

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $36.53)
  • $36.53 P/E (TTM): 29.1X Cap: $5.63B
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• Granite Real Estate Investment Trust (GRT.UN $92.21)
  • $92.21 Cap: $5.52B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $13.76)
  • $13.76 P/E (TTM): 37.3X Cap: $3.93B
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Q: Hello,
I own both CAR.UN and DIR.UN, am growing tired of watching CAR's share price steadily decline over the past 5 years.
Could you suggest a replacement for CAR.UN with a better growth profile, decent yield, not necessarily residential?
Thanks as always.

Upvote 5

Read Answer Asked by Roman on April 20, 2026

Q: Would you consider The Antrim Balanced Mortgage Fund (ABM103) a good fund to add to a portfolio for diversification in fixed income? It advertises a 7.5% yield.

Upvote 2

Read Answer Asked by Paul on April 17, 2026

• First Capital Realty Inc. (FCR)
  • P/E (TTM): 15.9X
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Q: Hi Peter, I am a long time First Capital Reit holder. It is a full position for me. With the announcement of the Acquisition what would you recommend. The share price is $23.64 and the deal is valued at $24.40. I would appreciate your professional opinion. It looks like quite a gap between two prices.

Upvote 2

Read Answer Asked by Frank on April 16, 2026

• Bridgemarq Real Estate Services Inc. Restricted Voting Shares (BRE $14.02)
  • $14.02 Cap: $222M
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Q: Please comment on co. and latest Q results.Buy,Sell or Hold.If sell,please provide 2 or 3 replacements.Txs for U usual great services & views

Upvote 1

Read Answer Asked by Peter on April 16, 2026

• Dream Industrial Real Estate Investment Trust (DIR.UN $13.76)
  • $13.76 P/E (TTM): 37.3X Cap: $3.93B
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Q: Some are optimistic about Dir.un but how does one feel about the growth going forward?

Upvote 5

Read Answer Asked by terrance on April 16, 2026

• Dream Industrial Real Estate Investment Trust (DIR.UN $13.76)
  • $13.76 P/E (TTM): 37.3X Cap: $3.93B
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Q: Looking at Dream Industrial REIT, I see that the P/E ratio is about 36, which I interpret as expensive, while the P/B ratio is about 0.8, which I would consider a bargain. Which is it? What am I missing?

Upvote 6

Read Answer Asked by Ivars on April 15, 2026

• Aecon Group Inc. (ARE $48.25)
  • $48.25 P/E (TTM): 229.05X Cap: $3.42B
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• Alexandria Real Estate Equities Inc. (ARE $40.55)
  • $40.55 Cap: $7.15B
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Q: Ref : Patrick question on Monday:
“Do you have any thoughts on CUBE? I don’t have a lot of REIT exposure in my portfolio (just a small position in DIR.UN and some ARE at a large loss).”

Since ARE:CA has been a great performer in the last 5 years, I believe he is referring to ARE:US for real estate.

Upvote 3

Read Answer Asked by Denise on April 14, 2026

• Dream Industrial Real Estate Investment Trust (DIR.UN $13.76)
  • $13.76 P/E (TTM): 37.3X Cap: $3.93B
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Q: I need to diversify my RRSP and looking to allocate 10% of portfolio. What REITS should I consider for 5 to 10 year time frame. I read REITS are out of favour but I would think if rates go up they will not do well.

Upvote 7

Read Answer Asked by Tim on April 13, 2026

• American Tower Corporation (REIT) (AMT $181.88)
  • $181.88 P/E (TTM): 33.1X Cap: $83.01B
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• Essex Property Trust Inc. (ESS $263.86)
  • $263.86 P/E (TTM): 25.76X Cap: $17.27B
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• Alexandria Real Estate Equities Inc. (ARE $40.55)
  • $40.55 Cap: $7.15B
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• Camden Property Trust (CPT $105.92)
  • $105.92 P/E (TTM): 29.92X Cap: $10.58B
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• Extra Space Storage Inc (EXR $143.07)
  • $143.07 P/E (TTM): 30.72X Cap: $29.67B
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Q: Seeing many USA Property Trust companies stocks falling sharply. Would you be able to offer some insight to their valuation losses and where a "Buy" might be considered prudent?
Thanks again for all your great guidance.
Ted.

Upvote 2

Read Answer Asked by Ted on March 24, 2026

• Miscellaneous (MISC)
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Q: Hello, can you please confirm that REITs should be held in registered accounts (RSP, LIRA, TFSA) whenever possible considering their tax treatment (distribution treated the same as interest income in my understanding). Thank you.

Upvote 6

Read Answer Asked by Pierre on March 20, 2026

• True North Commercial Real Estate Investment Trust (TNT.UN $8.27)
  • $8.27 Cap: $118M
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Q: Could I please get your thoughts on their latest earnings, and future prospects? Thank you

Upvote 2

Read Answer Asked by Brent on March 20, 2026

• RFA Financial Inc. (RFA $24.51)
  • $24.51 Cap: $1.13B
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Q: Stock has dropped significantly since your most recent comment in February.
Do you have any updated insight ?

Thanks
Jerry

Upvote 1

Read Answer Asked by Jerry on March 18, 2026

• Vital Infrastructure Property Trust Tr Unit (NWH.UN)
  • P/E (TTM): 19.55X Cap: $1.41B
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• Vital Infrastructure Property Trust (VITL.UN $5.58)
  • $5.58 P/E (TTM): 19.55X Cap: $1.38B
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Q: Can you please provide insight into the name change and whether this has any effect on the operation of NorthWest Healthcare and their dividend. Thank you.

Upvote 1

Read Answer Asked by Donna on March 17, 2026

• Two Harbors Investment Corp (TWO $11.58)
  • $11.58 Cap: $1.21B
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• UWM Holdings Corporation Class A (UWMC $3.52)
  • $3.52 P/E (TTM): 30.42X Cap: $6.04B
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Q: A merger is in process. Would you be able to comment on the merger?

Upvote 2

Read Answer Asked by Brad on March 11, 2026