Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) PT at C$56.30

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$56.30.

CAR.UN has been the subject of a number of research analyst reports. Raymond James lowered their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada dropped their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$58.00 in a research report on Friday, May 10th. TD Securities decreased their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a report on Wednesday, April 24th. National Bankshares dropped their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, Scotiabank upped their price target on Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th.

Canadian Apartment Properties REIT Stock Down 0.1 %

TSE CAR.UN opened at C$44.45 on Friday. The business’s fifty day simple moving average is C$44.26 and its 200-day simple moving average is C$46.41. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of 76.89. The firm has a market cap of C$7.43 billion, a PE ratio of -59.27, a P/E/G ratio of -10.12 and a beta of 1.19. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$54.60.

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.