1 REIT to Buy as Canada’s Population Ages

Like many nations in the developed world, Canada is wrestling with a growth in its senior population that is unprecedented. Nearly one in five Canadians were at least 65 years of age as of the summer of 2022. That will grow to nearly a quarter of the total population by 2030. Canadians should target companies that are positioned to meet the demands of this demographic reality.

Chartwell Retirement REIT (TSX:CSH.UN) is a Mississauga-based open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities. Shares of this REIT have plunged 19% year-over-year as of close on January 27. The stock has jumped 19% to kick off the New Year.

Investors can expect to see Chartwell’s final batch of fiscal 2022 earnings in early March. The company released its third quarter fiscal FY2022 results on November 9. In Q3 2022, same property retirement operations average occupancy increased 60 basis points compared to 50 basis points in the prior year. It achieved resident revenue of $168 million – up from $156 million in the third quarter of fiscal 2021. Chartwell reported net income of $2.06 million in the first nine months of fiscal 2022 compared to a net loss of $8.60 million for the year-to-date period in 2021.


This REIT is set to deliver strong earnings growth going forward. Chartwell currently offers a monthly dividend of $0.051 per share. That represents a tasty 6.1% yield.