Scotiabank Trims Canadian Apartment Properties REIT (TSE:CAR.UN) Target Price to C$55.50

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective reduced by Scotiabank from C$55.75 to C$55.50 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. BMO Capital Markets raised their price target on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. TD Securities lifted 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 research report on Wednesday, September 4th. National Bankshares lifted their target price on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Finally, Cormark lifted their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and a consensus price target of C$58.38.

Canadian Apartment Properties REIT Stock Performance

CAR.UN stock opened at C$50.84 on Wednesday. The company has a market cap of C$8.50 billion, a P/E ratio of -158.88, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. 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 stock’s fifty day moving average price is C$52.51 and its 200-day moving average price is C$47.75.

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.