Raymond James Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$54.50

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target dropped by equities research analysts at Raymond James from C$58.00 to C$54.50 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Raymond James’ price target points to a potential upside of 33.19% from the stock’s previous close.

Several other equities analysts have also commented on CAR.UN. TD Securities cut their price target on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. Scotiabank cut their target price on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. CIBC boosted their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. BMO Capital Markets dropped their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research note on Monday, November 11th. Finally, National Bankshares reduced their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$56.78.

Canadian Apartment Properties REIT Trading Down 1.1 %

CAR.UN opened at C$40.92 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The stock’s fifty day moving average is C$43.95 and its two-hundred day moving average is C$47.94. The company has a market capitalization of C$6.84 billion, a P/E ratio of -127.88, a PEG ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 52 week low of C$40.77 and a 52 week 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.