Canadian Apartment Properties REIT (TSE:CAR.UN) PT Lowered to C$56.60

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target dropped by equities research analysts at Raymond James from C$60.00 to C$56.60 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 31.54% from the company’s current price.

CAR.UN has been the topic of a number of other reports. Laurentian set a C$55.00 price objective on shares of Canadian Apartment Properties REIT and gave the company a “buy” rating in a report on Monday, January 22nd. BMO Capital Markets raised their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Scotiabank reduced their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating on the stock in a report on Monday, March 25th. CIBC raised their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, National Bankshares reduced their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Stock Down 0.0 %

Canadian Apartment Properties REIT stock traded down C$0.01 during mid-day trading on Wednesday, reaching C$43.03. 157,149 shares of the company’s stock were exchanged, compared to its average volume of 394,248. The company has a market cap of C$7.21 billion, a P/E ratio of -17.71, a P/E/G ratio of -10.12 and a beta of 1.18. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65. The company has a fifty day moving average of C$47.03 and a 200-day moving average of C$46.79.

Canadian Apartment Properties REIT Company Profile

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.