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CAPREIT Reports Continued Growth and Strong Operating Performance in Second Quarter of 2021 TORONTO , ONTARIO , ( Globe Newswire ) - August 12 , 2021 -- Canadian Apartment Properties Real Estate Investment Trust ( " CAPREIT " ) ( TSX : CAR.UN ) announced today continuing strong operating and financial results for the three and six months ended June 30 , 2021 . HIGHLIGHTS : Portfolio Performance Overall portfolio occupancy ( 1 ) Overall portfolio net Average Monthly Rents ( 1 ) ( 2 ) Operating revenues ( 000s ) Net rental income ( " NOI " ) ( 000s ) NOI Margin Financial Performance Normalized Funds from Operations ( " NFFO " ) ( 000s ) ( 3 ) NFFO per Unit - basic ( 3 ) Cash distributions per Unit FFO payout ratio ( 3 ) NFFO payout ratio ( 3 ) Liquidity and Leverage Three Months Ended June 30 , 2021 2020 Six Months Ended June 30 , 2021 97.2 % 2020 ( 5 ) 98.0 % $ 1,118 $ 1,104 $ 228,856 $ $ 151,786 $ 66.3 % 219,925 $ 143,233 $ 298,438 $ 65.1 % 65.4 % 456,362 $ 435,985 281,291 64.5 % $ $ $ 100,080 $ 0.579 $ $ 0.345 61.4 % 59.8 % 94,712 $ 0.555 $ 0.345 $ 62.8 % 62.4 % 196,022 $ 1.135 $ 0.690 $ 62.2 % 187,859 1.102 0.690 63.3 % 61.0 % 62.8 % Total debt to gross book value ( 1 ) Total debt to gross historical cost ( 1 ) Weighted average mortgage interest rate ( 1 ) Weighted average mortgage term ( years ) ( 1 ) Debt service coverage ( times ) ( 4 ) Interest coverage ( times ) ( 4 ) Available liquidity - Acquisition and Operating Facility ( 000s ) ( 1 ) Cash and cash equivalents ( 000s ) ( 1 ) ( 1 ) As at June 30 . 36.37 % 36.02 % 51.77 % 48.99 % 2.53 % 2.76 % 5.77 4.99 2.00 1.99 3.99 3.91 $ 250,676 $ 124,772 $ 122,542 $ 213,455 ( 2 ) Net Average Monthly Rent ( " Net AMR " ) is defined as actual residential rents , excluding vacant units , divided by the total number of suites and sites in the property and does not include revenues from parking , laundry or other sources . ( 3 ) These measures are not defined by IFRS , do not have standard meanings and may not be comparable with other industries or companies . Please refer to the cautionary statements under the heading " Non - IFRS Financial Measures " and the reconciliations provided in this press release . ( 4 ) Based on the trailing four quarters . ( 5 ) Certain 2020 comparative figures have been adjusted to conform with current period presentation . Other Measures Weighted average number of Units - basic ( 000s ) Number of residential suites and sites acquired Number of suites disposed Closing price of Trust Units on the TSX ( 1 ) Market capitalization ( millions ) ( 1 ) ( 1 ) As at June 30 . Three Months Ended June 30 , 2021 2020 Six Months Ended June 30 , 2021 2020 172,950 170,588 1,659 172,712 1,659 170,397 1,724 58.12 $ 48.59 $ 10,095 $ 8,357