TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$60.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective trimmed by TD Securities from C$63.00 to C$60.00 in a report released on Wednesday morning, BayStreet.CA reports.

A number of other research analysts have also issued reports on CAR.UN. Scotiabank decreased their target price on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating on the stock in a research report on Monday, March 25th. National Bankshares decreased their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating on the stock in a research report on Wednesday. Raymond James decreased their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an outperform rating on the stock in a research report on Wednesday. CIBC increased their target price on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a neutral rating in a research report on Monday, February 26th. Finally, Laurentian set a C$55.00 target price on Canadian Apartment Properties REIT and gave the company a buy rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of C$56.37.

Canadian Apartment Properties REIT Trading Up 0.9 %

Canadian Apartment Properties REIT stock opened at C$43.22 on Wednesday. Canadian Apartment Properties REIT has a 12 month low of C$40.52 and a 12 month high of C$54.60. The firm has a market cap of C$7.24 billion, a PE ratio of -17.79, a P/E/G ratio of -10.12 and a beta of 1.18. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65. The stock’s 50 day simple moving average is C$46.65 and its two-hundred day simple moving average is C$46.72.

About Canadian Apartment Properties REIT

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.