Topic: How To Invest

Pat: May I please have your insight on Chartwell Retirement Residences? Thank you very much.

Article Excerpt

A: Chartwell Retirement Residences, $15.32, symbol CSH.UN (Units outstanding: 211.2 million; Market cap: $3.3billion; www.chartwell.com), owns and operates a complete range of seniors housing communities. They include both independent, supportive-living homes and long-term care. It is the largest owner and operator of seniors’ residences in Canada. Chartwell owns all or part of 157 retirement homes and 24 long-term care facilities. It manages another six retirement homes and four long-term care facilities. Chartwell has 55% of its suites/beds in Ontario, 32% in Quebec, 10% in B.C., and 3% in Alberta. The trust completed and opened five new residences in 2017. It also continues to use acquisitions to expand—it paid $210.5 million that same year for interests in six properties. In February 2018, Chartwell sold two 100%-owned and one 50%-owned retirement residences in Quebec. It received $32.0 million for those non-core properties. In April 2018, the trust completed the acquisition of four retirement communities in Edmonton for $297.4 million and agreed to acquire an additional residence…