Canada's Chartwell Q1 operating income rises driven by higher occupancy

Chartwell Retirement Residences

07/05/2026 22:24

Corrects table metric to 'Property Revenue', not 'Resident Revenue;' corrects Adjusted Resident Revenue and Adjusted Property Operating Expenses figures

Overview

Canada seniors housing operator's Q1 property revenue rose 24% yr/yr on higher occupancy

Q1 net income fell due to prior-year gain on asset sale; FFO rose 52%

Company announced acquisitions and sales, including joint venture for 23 retirement communities

Outlook

Chartwell expects to achieve a full-year average occupancy target of 95% in 2026

Company anticipates continued strong leasing activity due to favorable industry supply and demand

Chartwell expects to incur SIFT tax payable in 2026, mainly from property dispositions

Result Drivers

OCCUPANCY GAINS - Higher occupancy rates drove increases in same property NOI and operating margin

OPERATING EFFICIENCY - Improved operating margin and lower G&A expenses contributed to higher FFO

Company press release: ID:nCNWVRhDYa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Property Revenue
C$302.95 mln
Q1 Adjusted Resident Revenue
C$310.466 mln
Q1 Net Income
C$7.99 mln
Q1 Adjusted Property Operating Expenses
C$185.842 mln
Q1 Property Operating Expenses
C$179.21 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Chartwell Retirement Residences is C$25.38, about 14.6% above its May 6 closing price of C$22.15

The stock recently traded at 68 times the next 12-month earnings vs. a P/E of 67 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)