Canadian Apartment Properties REIT (TSE:CAR.UN) PT Lowered to C$56.00 at BMO Capital Markets

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective decreased by equities researchers at BMO Capital Markets from C$61.00 to C$56.00 in a report issued on Monday, BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 17.11% from the stock’s previous close.

Several other research firms have also commented on CAR.UN. Raymond James increased their price target on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. National Bankshares increased their target price on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a report on Wednesday, October 9th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$55.75 to C$55.50 and set an “outperform” rating for the company in a report on Wednesday, October 16th. CIBC increased their price objective on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Apartment Properties REIT has an average rating of “Moderate Buy” and an average target price of C$57.96.

Canadian Apartment Properties REIT Price Performance

Shares of TSE CAR.UN opened at C$47.82 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The company’s 50-day moving average price is C$52.48 and its 200 day moving average price is C$47.92. Canadian Apartment Properties REIT has a 52 week low of C$40.70 and a 52 week high of C$56.71. The stock has a market cap of C$7.99 billion, a price-to-earnings ratio of -149.44, a PEG 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.