CAPREIT's Monthly Distribution Update for October 2024
CAPREIT Announces October 2024 Distribution
Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) has officially announced its monthly distribution for October 2024. Investors can expect a distribution of $0.125 per Unit which equates to an annualized rate of $1.50. This monthly distribution will be payable on the 15th of November 2024 to Unitholders on record as of the close of business on the last day of October.
About CAPREIT: A Leader in Rental Housing
CAPREIT proudly holds the title of Canada’s largest publicly traded provider of high-quality rental housing solutions. As of mid-2024, the company’s impressive portfolio encompasses approximately 64,200 residential apartment suites, townhomes, and manufactured home community sites, strategically located across Canada and the Netherlands. The total value of CAPREIT's investment properties is approximately $16.6 billion, indicating substantial growth and stability in the real estate market.
Strong Growth in Cash Distributions
Since its Initial Public Offering in May 1997, CAPREIT has demonstrated a remarkable commitment to returning value to its shareholders by increasing monthly cash distributions per Unit by an impressive 110%. This consistent growth reflects the company's effective management strategies and robust financial performance over the years.
Company Leadership and Contact Information
The experienced leadership team at CAPREIT ensures that the company remains at the forefront of the rental housing sector. The President and CEO, Mr. Mark Kenney, along with Chief Financial Officer Mr. Stephen Co and Chief Investment Officer Mr. Julian Schonfeldt, work diligently to uphold CAPREIT's reputation and drive future growth.
For further information about CAPREIT’s strategic initiatives, investment highlights, and operational insights, individuals can reach out to the following contacts:
Contact Details:
Mr. Mark Kenney
President & Chief Executive Officer
(416) 861-9404
Mr. Stephen Co
Chief Financial Officer
(416) 306-3009
Mr. Julian Schonfeldt
Chief Investment Officer
(647) 535-2544
Frequently Asked Questions
What is the amount of the October 2024 distribution from CAPREIT?
The October 2024 distribution amount is $0.125 per Unit.
When will the distribution be paid to Unitholders?
The distribution will be payable on November 15, 2024.
How long has CAPREIT been increasing cash distributions?
CAPREIT has increased monthly cash distributions per Unit by 110% since its Initial Public Offering in May 1997.
How many residential units does CAPREIT own?
CAPREIT owns approximately 64,200 residential apartment suites, townhomes, and manufactured home community sites.
What is the total value of CAPREIT’s investment properties?
The total value of CAPREIT's investment properties is approximately $16.6 billion.
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