Canadian Apartment Properties REIT (TSE:CAR.UN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$57.17.

Several brokerages recently commented on CAR.UN. CIBC upped their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Raymond James dropped their price objective on Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. TD Securities cut their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday, November 11th. Scotiabank dropped their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. Finally, BMO Capital Markets reduced their price objective on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th.

Canadian Apartment Properties REIT Stock Up 0.8 %

CAR.UN opened at C$42.51 on Friday. The stock has a market capitalization of C$7.11 billion, a price-to-earnings ratio of -132.84, 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$41.67 and a 12 month 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 business has a 50-day moving average of C$45.90 and a two-hundred day moving average of C$48.10.

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.