National Bankshares Boosts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$63.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target boosted by investment analysts at National Bankshares from C$58.00 to C$63.00 in a research report issued on Wednesday, BayStreet.CA reports. National Bankshares’ price objective indicates a potential upside of 23.36% from the company’s current price.

A number of other analysts also recently commented on CAR.UN. Raymond James upped their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Royal Bank of Canada raised their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. CIBC lifted their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Cormark lifted their price objective on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Finally, TD Securities increased their target price on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.40.

Canadian Apartment Properties REIT Price Performance

Canadian Apartment Properties REIT stock traded down C$0.23 during mid-day trading on Wednesday, reaching C$51.07. The company had a trading volume of 106,664 shares, compared to its average volume of 380,964. The stock’s 50-day simple moving average is C$52.13 and its 200-day simple moving average is C$47.56. Canadian Apartment Properties REIT has a 1 year low of C$40.52 and a 1 year high of C$56.71. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a market capitalization of C$8.54 billion, a P/E ratio of -159.59, a P/E/G ratio of -10.12 and a beta of 1.23.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.