Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$53.00 by Analysts at Scotiabank

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lowered by Scotiabank from C$55.50 to C$53.00 in a research note published on Monday,BayStreet.CA reports.

Several other brokerages have also recently issued reports on CAR.UN. Raymond James increased their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. TD Securities dropped their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday. BMO Capital Markets dropped their target price on Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a research report on Monday, October 28th. Royal Bank of Canada increased 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, CIBC increased their target price on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and an average target price of C$56.91.

Canadian Apartment Properties REIT Stock Down 0.5 %

Shares of TSE:CAR.UN opened at C$44.86 on Monday. Canadian Apartment Properties REIT has a 52-week low of C$41.92 and a 52-week high of C$56.71. The stock has a market cap of C$7.50 billion, a P/E ratio of -140.19, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The business’s 50 day moving average is C$51.22 and its 200 day moving average is C$48.06. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

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.