Canadian Apartment Properties REIT (TSE:CAR.UN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$56.91.

A number of brokerages have issued reports on CAR.UN. Scotiabank decreased their price objective on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. Cormark raised their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Royal Bank of Canada boosted their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Raymond James lowered their target price on shares of Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. Finally, BMO Capital Markets cut their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th.

Canadian Apartment Properties REIT Stock Down 0.7 %

Shares of TSE CAR.UN opened at C$44.69 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. Canadian Apartment Properties REIT has a 12-month low of C$41.92 and a 12-month high of C$56.71. The firm’s 50-day moving average price is C$50.06 and its 200-day moving average price is C$48.19. The stock has a market capitalization of C$7.47 billion, a price-to-earnings ratio of -139.66, 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.