Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Increased to C$61.00 by Analysts at BMO Capital Markets

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective hoisted by stock analysts at BMO Capital Markets from C$57.00 to C$61.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 12.73% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada lifted 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. Raymond James lifted their target price on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Scotiabank lifted their target price on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Cormark lifted their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Finally, TD Securities lifted their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of “Moderate Buy” and a consensus price target of C$57.81.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN traded down C$0.59 during midday trading on Wednesday, hitting C$54.11. The company’s stock had a trading volume of 166,834 shares, compared to its average volume of 372,489. The business’s 50 day simple moving average is C$50.38 and its 200 day simple moving average is C$46.97. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The company has a market cap of C$9.05 billion, a P/E ratio of -169.09, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 12-month low of C$40.52 and a 12-month high of C$56.71.

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.