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Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canadian residential real estate investment trust (REIT) whose units trade on the Toronto Stock Exchange under the official symbol CAR.UN. Some quote providers use CAR-UN.TO for the same listing. CAPREIT’s latest quarterly results located here were released August 6, 2026, for the quarter ended June 30; they show softer occupancy and slower rent increases, modest same-property NOI growth, and lower quarterly FFO per unit. The available figures do not establish a live October 2026 unit price, trading volume or distribution yield.
CAPREIT stock symbol and business
CAPREIT is a fully internalized investment trust that owns multi-unit residential properties, including apartments and townhomes, in or near major Canadian urban centres. Its stated objectives are to provide long-term, stable and predictable monthly cash distributions and to grow distributable income and unit value through property and financial management. The official TSX symbol is CAR.UN; CAR-UN.TO is a quote-provider spelling.
For context about the trust’s scale and geographic concentration, CAPREIT’s 2025 Annual Report says that at December 31, 2025, its Canadian residential portfolio comprised approximately 45,000 apartment suites and townhomes, with 97.3% occupancy and occupied average monthly rent (AMR) of $1,718. Total portfolio fair value was $14.7 billion. Canadian residential portfolio fair value was concentrated in Ontario (51%), Québec (19%), British Columbia (17%), Nova Scotia (7%), Alberta (4%), Saskatchewan (1%) and Prince Edward Island (less than 1%). The report also listed 1,029 Netherlands suites, including 410 classified as held for sale. These are year-end 2025 figures, not a description of the later Q2 2026 portfolio. CAPREIT 2025 Annual Report and financial reports
What CAPREIT’s latest reported results show
CAPREIT’s Q2 2026 release, published August 6, covers the three and six months ended June 30, 2026. At June 30, it reported 45,460 suites, down from 45,905 at December 31, 2025, and investment properties with a fair value of $14.435 billion. Those are balance-sheet-date measures, not live portfolio or market values. CAPREIT Q2 2026 Results
#1 Best Overall
Occupancy, rent and property income
For Q2 2026, same-property Canadian residential occupancy was 97.5%, compared with 98.4% in Q2 2025. Same-property occupied AMR rose 2.3% year over year. Across turnovers and renewals, monthly residential rents increased by a weighted 1.1% in the quarter, versus 3.8% in Q2 2025; turnover rents alone declined 1.2%, while lease renewals increased 2.3%. Canadian same-property net operating income (NOI) grew 0.9%, and the same-property NOI margin was 66.2%.
These figures describe different parts of rental performance: occupied AMR growth reflects rents for occupied homes in the same-property group, while turnover and renewal changes describe rent changes when leases change. CAPREIT reports AMR and NOI measures using its own definitions; check those definitions before comparing them with another REIT’s figures.
Rank #2
FFO and management’s explanation
Diluted funds from operations (FFO) per unit was $0.654 in Q2 2026, a 1.1% year-over-year decline. CAPREIT attributed the decline primarily to lost NOI from property dispositions and higher interest costs, partly offset by unit repurchases. For the first six months of 2026, diluted FFO per unit increased 0.2% year over year.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsIn the Q2 release, CEO Brad Cutsey said, “More broadly, while current market conditions remain soft across parts of the Canadian rental market, we believe the long-term fundamentals supporting the business are firmly in our favour.” CFO Stephen Co described the quarter as resilient despite near-term pressure and said the lower diluted FFO per unit primarily reflected dispositions and higher interest costs, partially offset by NCIB repurchases. These are management’s assessments, not independent forecasts.
NAV and property values
At June 30, 2026, diluted net asset value (NAV) per unit was $54.38, down from $54.79 at March 31, primarily because of fair-value losses on investment properties. During the first six months of 2026, investment-property carrying value excluding assets held for sale decreased by $298.0 million. CAPREIT said this primarily reflected a $388.8 million fair-value loss, dispositions and transfers to held-for-sale, partly offset by capital investment and acquisitions.
NAV is a reported book-value measure, not a guaranteed sale price for the properties or a target price for units. CAPREIT identifies FFO and other measures as non-IFRS or issuer-defined in its reporting; such measures may not be comparable across companies or industries. Use the company’s published definitions when interpreting them.
CAR.UN price, quote and distribution context
No October 3, 2026 closing price, trading volume or yield was verified for this article. For a current quote, check the Toronto Stock Exchange or a reputable market-data provider and confirm the date and whether the displayed figure is delayed, intraday or a closing price.
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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →CAPREIT’s February 2026 investor presentation reported a $37 closing unit price and 4.2% distribution yield, based on the February 12, 2026 closing price. This is a dated historical snapshot, not an October 2026 quote or an investment recommendation. Yield varies with unit price even when the distribution amount is unchanged. CAPREIT February 2026 Investor Presentation
Distribution amounts and dates
CAPREIT’s 2025 Annual Report listed an annualized distribution of $1.55 per unit. Its June 2026 distribution announcement specified $0.12917 per unit for that month, also expressed as $1.55 annualized. The company’s news archive lists a September 2026 distribution announcement, but the amount is not established by the archive information cited here; do not assume the June amount continued unchanged. Check the actual announcement for the applicable month. CAPREIT news and distribution announcements
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to assess CAPREIT rather than rely on one headline number
Whether CAR.UN fits an investor’s objectives depends on their circumstances and assumptions; the reported figures alone do not establish that it is a good investment. A more useful assessment compares operating performance, financing and valuation across consistent reporting dates.
- Rental operations: Track occupancy, occupied AMR growth, turnover and renewal rents, and same-property NOI. Q2 2026 occupancy was lower year over year even as occupied AMR and same-property NOI grew.
- Cash generation and distributions: Compare the distribution with FFO and the FFO payout ratio, using CAPREIT’s definitions and matching periods. For the year ended December 31, 2025, CAPREIT reported diluted FFO per unit of $2.54 and an FFO payout ratio of 60.8%; these are annual figures and should not be treated as Q2 2026 measures.
- Debt and interest costs: CAPREIT reported total debt to gross book value of 39.3% at December 31, 2025. Its Q2 2026 release cited higher interest costs as a factor in the quarterly FFO decline. Debt availability, borrowing costs and refinancing conditions can affect future cash generation.
- Valuation: Compare a dated unit price with reported NAV per unit, while recognizing that NAV is a book measure and property fair values can change. CAPREIT’s year-end 2025 diluted NAV was $56.41 per unit; at June 30, 2026 it was $54.38.
- Portfolio and external risks: Consider geographic and property concentration, rental-market conditions, rent-control and residential-tenancy rules, leasing competition, regulation, taxation, climate and energy costs, currency and foreign operations, liquidity, and the illiquidity of real property. CAPREIT’s release also identifies unit-price volatility and distribution risks.
Past reported occupancy, rent growth, NAV, FFO or distributions do not by themselves establish future returns. Review the full financial statements and risk disclosures, and compare issuers only when the dates, methods and definitions align.
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