Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$56.38 Consensus Target Price from Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN – Get Rating) have received a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is C$56.38.

Several research firms have commented on CAR.UN. CIBC increased their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$53.00 and gave the company a “neutral” rating in a report on Friday, February 24th. Royal Bank of Canada increased their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Scotiabank increased their price target on shares of Canadian Apartment Properties REIT from C$54.50 to C$55.00 in a report on Friday, February 24th. BMO Capital Markets increased their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$54.00 in a report on Monday, February 27th. Finally, National Bankshares increased their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 24th.

Canadian Apartment Properties REIT Trading Down 1.3 %

Shares of Canadian Apartment Properties REIT stock opened at C$46.20 on Tuesday. The company has a fifty day moving average of C$48.38 and a 200 day moving average of C$44.63. Canadian Apartment Properties REIT has a fifty-two week low of C$39.08 and a fifty-two week high of C$55.99. The company has a market capitalization of C$7.83 billion, a P/E ratio of 660.00, a P/E/G ratio of -10.12 and a beta of 1.06. The company has a debt-to-equity ratio of 70.23, a quick ratio of 0.16 and a current ratio of 0.25.

Canadian Apartment Properties REIT Company Profile

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CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.