Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lifted by analysts at TD Securities from C$48.00 to C$51.00 in a research note issued on Thursday. The brokerage presently has a “hold” rating on the stock. TD Securities’ price objective indicates a potential upside of 7.48% from the stock’s current price.
CAR.UN has been the topic of several other research reports. National Bank Financial lifted their price target on Canadian Apartment Properties REIT from C$45.00 to C$46.00 in a report on Thursday, November 1st. Canaccord Genuity lifted their price target on Canadian Apartment Properties REIT from C$39.00 to C$43.50 in a report on Monday, July 30th. CIBC lifted their price target on Canadian Apartment Properties REIT from C$46.00 to C$49.00 in a report on Wednesday, September 26th. Royal Bank of Canada lowered Canadian Apartment Properties REIT from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$46.00 to C$49.00 in a report on Monday, October 1st. Finally, Industrial Alliance Securities lifted their price target on Canadian Apartment Properties REIT from C$43.50 to C$50.00 in a report on Tuesday, August 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$48.08.
CAR.UN traded up C$0.12 on Thursday, hitting C$47.45. 610,135 shares of the company’s stock were exchanged, compared to its average volume of 310,604. Canadian Apartment Properties REIT has a fifty-two week low of C$31.93 and a fifty-two week high of C$37.94.
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. CAPREIT’s investment objectives are to provide unitholders with long-term, monthly cash distributions; grow normalized funds from operations (NFFO), distributions and Unit value through the management of its properties, acquisitions and financial management, and reinvest capital within the property portfolio.
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