Canadian Apartment Properties was the real estate investment trust (REIT) with the largest market cap in Canada as of April 11, 2024. The market cap, or the aggregate value of the total outstanding shares of the company, was 5.4 billion U.S. dollars during that period. Canadian Apartment Properties also had the third-highest revenue after Choice Properties and RioCan. Nevertheless, Dream Industrial headed the ranking in terms of five-year return on investment (ROI), at 7.58 percent. RioCan's EBITDA margin was also the second-highest, with earnings before interest, taxes, depreciation, and amortization amounting to 65.53 percent of the company's revenue. In terms of dividends, Allied Properties ranked first, with a dividend yield of 9.97 percent.
As of April 18, 2024, the nine leading real estate investment trusts (REITs) in Canada had a combined market capitalization of nearly 39 billion Canadian dollars. Canadian Apartment Properties had the highest market cap at 7.8 billion Canadian dollars, about three billion higher than RioCan, which held second place. Canadian Apartment Properties is an apartment properties investment trust that specializes in mid-tier and luxury multiunit residential rental properties.
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The Canadian storage and warehouse leasing industry is simultaneously driven and challenged by persistent e-commerce growth, shifting logistics demands and booming population growth rates. Even as e-commerce businesses remain the key drivers of demand, industrial market studies hint at moderation, especially as national availability rates for warehouse space hit the highest levels since 2016. Simultaneously, demand for storage solutions is fueled by an expanding urban population and tight housing markets. Given the fiercely competitive landscape, key stakeholders need to differentiate services through automation, IoT adoption, and offering additional services like temperature-controlled storage and integrated logistics. Revenue has climbed at a CAGR of 4.0% through the five years to 2025. It is expected to reach $5.7 billion in 2025, when revenue will gain an estimated 1.3%. Differentiating factors shaping the market include customers' changing storage requirements influenced by demographic growth patterns, residential needs and third-party logistics. While demand for compact storage solutions in high-density neighborhoods is rising, the growth from commercial tenants since 2020 has been dominant due to enhanced logistical requirements. Characterizing this split horizontal marketplace are two distinctly dominant profiles—high-quality urban facilities and aging suburban stock, which influence decision-making based on rental rates, availability, location, and services offered. Through the end of 2030, tech-enabled facilities and automated spaces will command premium rents, while dated inventories may face obsolescence. Expansion strategies should consider acquisitions since organic growth will likely remain costly, especially for large-scale facilities. Cold storage facilities will experience substantial growth driven by pharmaceutical logistics demands and perishable food exports, necessitating alignment with ESG goals and cost reduction measures. However, while profit is expected to remain high, it will stagnate because of high upfront costs for automation, climate-controlled infrastructure and rising maintenance costs. To stay competitive, entities must invest in automation, adopt dynamic pricing models, and consider acquisition opportunities in undersupplied regions. Still, revenue will climb at a CAGR of 1.2% through the end of 2030, reaching $6.1 billion.
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Canadian Apartment Properties was the real estate investment trust (REIT) with the largest market cap in Canada as of April 11, 2024. The market cap, or the aggregate value of the total outstanding shares of the company, was 5.4 billion U.S. dollars during that period. Canadian Apartment Properties also had the third-highest revenue after Choice Properties and RioCan. Nevertheless, Dream Industrial headed the ranking in terms of five-year return on investment (ROI), at 7.58 percent. RioCan's EBITDA margin was also the second-highest, with earnings before interest, taxes, depreciation, and amortization amounting to 65.53 percent of the company's revenue. In terms of dividends, Allied Properties ranked first, with a dividend yield of 9.97 percent.