Why I’m buying more of this apartment REIT
It’s time for some early spring cleaning in my model dividend portfolio.
First, I’ll discuss how I’m reinvesting a chunk of the cash that’s accumulated over the past few months. Then I’ll announce a few changes to the portfolio to simplify its structure.
Buying good companies whose shares are out of favour is a time-honoured investing strategy. With that in mind, I’ve decided to increase my position in one of the portfolio’s worst-performing stocks: Canadian Apartment Properties Real Estate Investment Trust (CAR-UN-T).
Cuts to immigration targets and an influx of new rental supply have delivered a double blow to Canada’s largest publicly traded apartment landlord. Higher interest rates have also hurt the unit price by…
