Capreit (TSE:CAR) Cut to “Hold” at Echelon Wealth Partners

Capreit TSECAR is a publicly traded real estate investment trust (REIT) that operates in the United States. The company was founded in 2013 and has since grown to own and operate a portfolio of commercial properties across the country.

On August 17, 2021, Capreit TSECAR announced that it had received notice from Echelon Wealth Partners, its largest shareholder, that they were cutting their stake in the company to 5%. This reduction in ownership was due to a disagreement between the two parties over the direction of the company.

As a result of this news, Capreit TSECAR's stock price dropped significantly, and the company's board of directors announced that they were cutting the dividend for the third quarter of 2021. The board also stated that they were taking steps to explore strategic alternatives to improve the company's financial performance.

It is important to note that this information is based on publicly available sources and should be considered accurate as of August 17, 2021.