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Picks Update

CT REIT (TSX: CRT.UN, OTC: CTRRF)

Canadian Tire owns approximately 85% of CT REIT and provides 92% of its annual rent

CT REIT went public in October 2013, assuming ownership of parent Canadian Tire’s retail stores. It now has 375 properties, mainly stores, across all 10 provinces and two territories.


Income Investor

CT REIT benefits from its relationship with its parent. As Canadian Tire grows, so does the REIT. Canadian Tire has emerged from the pandemic with a revitalization strategy and has rebounded from fears about the impact of US tariffs. Over the next two years, Canadian Tire is spending $2 billion on store upgrades and expanding its loyalty program. CT REIT is appealing for safety conscious investors who like a yield that is higher than the parent company’s stock. It has an unbroken string of annual increases, a strong balance sheet, and a solid relationship with its parent. - Adam Mayers

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CRT.UN was first recommended here on March 1, 2021