Professional
Added to YB: 2025-01-14
Pitch date: 2025-01-11
NRR-UN.TO [bullish]
Northview Residential REIT
+26.26%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
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Company Info
Northview Residential REIT is a real estate investment trust amended and restated most recently on August 21, 2023.
Show full summary:
Investment idea: Northview, Canada's highest yielding residential REIT
NRR-UN.TO: 7.5% yield, 46% NAV discount. 90% in Arctic/Atlantic Canada/Alberta w/ rent growth. Unique markets, 96% occupancy. 65% debt/book value, selling non-core assets. 90% CMHC-backed mortgages. Illiquid (19% float). Potential takeout target. Risks: debt, illiquidity. Bull case: rent growth, interest rate cuts, valuation gap.
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