3 Growth Stocks Worth Adding to a TFSA This Summer

Summer can reset a Tax-Free Savings Account (TFSA) fast. A few smart buys today can do more than sit there collecting dust. They can add income, growth, and long-term exposure to trends Canadians already understand. Healthcare demand keeps rising. Senior care needs keep expanding. Value-focused retail still pulls traffic. That’s why Chartwell Retirement Residences (TSX:CSH.UN), Extendicare (TSX:EXE), and SmartCentres Real Estate Investment Trust (TSX:SRU.UN) look worth adding to a TFSA this summer.

CSH

Canada keeps getting older. More families need retirement living options, and supply doesn’t appear overnight. Chartwell runs one of Canada’s largest retirement residence platforms, giving it scale in a sector with long-term demand. The dividend stock owns and operates communities that serve seniors who want independent living, assisted living, or added support.

The recent numbers show why investors have started paying closer attention. In the first quarter of 2026, Chartwell delivered same-property adjusted net operating income (NOI) growth of 15.6%. Funds from operations (FFO) per unit rose 35%. That’s strong growth for a company many investors still think of as a slow-moving income stock.

As more suites fill, Chartwell can spread costs over more residents and improve margins. That gives the business operating leverage. The dividend adds another bonus for TFSA investors, though the bigger story looks like recovery and growth after a tough stretch for senior housing. With demographic demand behind it, this dividend stock looks like a long-term TFSA fit.

EXE

Extendicare brings a slightly different healthcare angle. It operates long-term care homes, home health care, and management services. This makes it more than a landlord or facility operator. It gives investors exposure to both institutional care and care delivered at home, which could become even more important as governments try to ease pressure on hospitals.

Extendicare’s latest quarter looked strong. Revenue rose to $465.2 million in Q1 2026 from $374.7 million a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased to $52.9 million from $35.6 million. Home health care helped drive growth, with average daily volume up 32.7%. That gives investors a clear reason to watch this stock beyond its dividend.

The company also pays a monthly dividend, which works nicely inside a TFSA. Investors can reinvest the cash while they build wealth, then use it for income later. The payout ratio looked healthier in the quarter, giving the dividend more breathing room. In short, Extendicare serves a need Canada can’t ignore.

SRU

SmartCentres rounds out the list with real estate growth. It owns open-air retail properties across Canada, often anchored by value-focused retailers. These centres keep drawing shoppers because they meet everyday needs. Grocery, discount retail, pharmacies, and essential services still bring traffic, even when consumers feel squeezed.

SmartCentres reported 97.6% in-place and committed occupancy at the end of Q1 2026. It also extended about 80% of leases maturing in 2026, with 11.5% rent growth excluding anchors. That’s a strong sign of tenant demand.

The growth angle comes from development. SmartCentres owns valuable land and keeps pushing projects in retail, storage, and mixed-use communities. Those projects can unlock value over time. Meanwhile, investors collect a monthly distribution while waiting. SmartCentres has scale, strong locations, and a tenant base built around practical shopping needs.

Bottom line

For TFSA investors, these three stocks offer a useful mix. Chartwell brings retirement living growth. Extendicare adds healthcare and home care demand. SmartCentres provides retail real estate income and development upside. And $7,000 in each can bring in strong income to reinvest.

COMPANYRECENT PRICENUMBER OF SHARESANNUAL DIVIDENDANNUAL TOTAL PAYOUTFREQUENCYTOTAL INVESTMENTEXE$32.90212$0.51$108.12Monthly$6,974.80CSH.UN$20.85335$0.62$207.70Monthly$6,984.75SRU.UN$29.91234$1.85$432.90Monthly$6,998.94

None of these promise instant gains, but all three serve needs that should grow over time. That’s exactly what a summer TFSA buy should do: give your money a reason to keep working long after the season ends.

The post 3 Growth Stocks Worth Adding to a TFSA This Summer appeared first on The Motley Fool Canada.

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More reading

• 1 Top Dividend Stock to Buy and Hold for 10 Years
• 2 High-Yield Dividend Stocks to Own for the Next 10 Years
• How to Turn a $14,000 TFSA Into a Cash-Generating Machine
• How to Put $14,000 in a TFSA to Work for Monthly Income That Could Last a Lifetime
• 2 Top Canadian Dividend Stocks to Snap Up on a Dip

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust. The Motley Fool has a disclosure policy.