Canadian Apartment Properties REIT (TSE:CAR.UN) PT Lowered to C$56.60

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective dropped by stock analysts at Raymond James from C$60.00 to C$56.60 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 32.15% from the stock’s previous close.

A number of other analysts have also recently commented on the company. National Bankshares cut their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Wednesday. CIBC lifted their target price on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. BMO Capital Markets lifted their target price on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Scotiabank cut their target price on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating on the stock in a research report on Monday, March 25th. Finally, TD Securities lifted their target price on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an “action list buy” rating in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Stock Down 0.4 %

Shares of TSE CAR.UN opened at C$42.83 on Wednesday. The business has a 50-day moving average of C$46.79 and a two-hundred day moving average of C$46.74. The company has a debt-to-equity ratio of 76.65, a current ratio of 0.19 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 1 year low of C$40.52 and a 1 year high of C$54.60. The company has a market capitalization of C$7.18 billion, a price-to-earnings ratio of -17.63, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18.

About Canadian Apartment Properties REIT

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.