Added to YB: 2026-04-29
Pitch date: 2026-04-28
CSH-UN.TO [bullish]
Chartwell Retirement Residences
-1.55%
current return
Author Info
Aurelion Research is a research analyst with a passion for markets, specializing in high‑conviction ideas across shipping, offshore drilling, and thematic equity research. Sign up for the newsletter.
Company Info
Chartwell Retirement Residences is in the business of serving and caring for Canada’s seniors, committed to its vision of Making People’s Lives BETTER and to providing a happier, healthier, and more fulfilling life experience for its residents.
Market Cap
CAD 6.7B
Pitch Price
CAD 21.20
Price Target
28.60 (+39%)
Dividend
3.02%
EV/EBITDA
22.33
P/E
1.6K
EV/Sales
8.06
Sector
Health Care Providers and Services
Category
growth
A Not-So-Boring Defensive Small-Cap Compounder in an Uncertain Market
CSH-UN.TO: Canada's largest seniors housing operator (191 facilities, 29,464 suites, 86% owned). 95% occupancy in same-property portfolio; target to maintain through 2026. Every 1% occupancy gain = ~C$12M annual rev. New assets generating ~45% margins. 2028 plan: C$2B in M&A/development, >95% occupancy, 4%+ rev growth/suite, <60% FFO payout, <7.5x debt/EBITDA. Trades 1.0x NAV vs 1.10-1.25x justified by supply shortage (construction starts <1% of inventory vs 200K suites needed by 2036), 4.2% annual demographic growth (75+), & private-pay model. Target C$28.60 (36% upside) at 1.20x 2027 NAV of C$23.82. Risks: labor costs, interest rates, regulation, development execution.
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