CAPREIT is set to report third-quarter results after the market closes on November 4. Analysts expect higher EPS but nearly flat revenue.
Canadian Apartment Properties Real Estate Investment Trust (TSX: CAR-UN; CAR-UN.TO) will report results for the quarter ended September 30, 2026. The calendar listing has no EPS headline, but consensus estimates put EPS at $2.16, based on two analysts, up from $1.47 a year earlier. Seven analysts expect revenue of $1.01 billion, down 0.3% year over year. The revenue estimate is unchanged from 30 days ago, with one downward revision and no upward revisions. CAPREIT beat estimates in two of its last four comparable quarters, but that record doesn’t predict the next result.
Recent earnings trend
Canadian Apartment Properties Real Estate Investment Trust
CAR-UN.TO
CAR-UN.TO
Canadian Apartment Properties Real Estate Investment Trust
WealthAwesomeMarket cap
$4.73B
Div. yield
4.99%
Div. / share
$1.55
52W high
$38.55
52W low
$30.76
1W change
-0.92%
Beta
0.90
Analyst Price Targets
Based on analyst covering CAR-UN · as of Oct 28, 2026
Wall Street analysts forecast CAR-UN stock price to rise 25.9% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$39.53
+25.9% Upside
Previously C$40.08 on Oct 23, 2026
Current Price
C$31.39
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CAR-UN's historical volatility
30-Day Vol
15.6%
Annualized
90-Day Vol
17.0%
Annualized
Trend (90d)
-34.0%
Annualized drift
90d Mean
C$27.80
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$30.14 | C$28.57 – C$31.81 |
| 60 trading days | C$28.95 | C$26.83 – C$31.23 |
| 90 trading days | C$27.80 | C$25.33 – C$30.51 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 2 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2019-06-30 | 2019-08-13 | 1.0600 | 0.5300 | +100.0% |
| 2019-03-31 | 2019-05-14 | 1.3500 | 0.4900 | +175.5% |
| 2018-12-31 | 2019-02-26 | 5.1200 | — | — |
| 2018-09-30 | 2018-11-06 | 0.8200 | — | — |
| 2018-06-30 | 2018-08-10 | 1.8000 | — | — |
| 2018-03-31 | 2018-05-08 | 0.7100 | — | — |
Investor takeaway: Investors will be watching whether earnings growth comes alongside steady property-level performance and nearly flat revenue. In the second quarter of 2026, CAPREIT reported 97.5% occupancy in its Canadian residential portfolio and 0.9% growth in same-property NOI, while diluted FFO per unit fell 1.1%. The third-quarter report will show whether occupancy and NOI held up, and how management explains the gap between expected EPS growth and slightly lower revenue. The EPS estimate is based on just two analysts, so it’s a limited measure of expectations.
C$2.16
That’s the consensus EPS estimate for the quarter ended September 30, based on two analysts. It compares with EPS of $1.47 a year earlier. The estimate hasn’t changed in 30 days. It’s worth considering alongside the $1.01 billion revenue estimate, which points to a 0.3% decline.
Bull case
CAPREIT goes into the report with high occupancy in its Canadian residential portfolio and modest same-property NOI growth in the previous quarter. The consensus EPS estimate implies 46.9% growth from a year earlier, and CAPREIT beat estimates in two of its last four comparable quarters. If rents, occupancy and costs remain steady, the results could support the view that property-level fundamentals are holding up.
Bear case
In the second quarter, same-property NOI grew 0.9%, but diluted FFO per unit fell 1.1%. That shows stronger property-level results haven’t necessarily led to per-unit growth. Analysts expect revenue to slip 0.3%, and only two analysts contributed to the EPS estimate. CAPREIT’s latest close of C$31.39 was below its 50-day and 200-day moving averages. That doesn’t predict the results, but investors may look for clear signs that fundamentals are improving.
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