National Bankshares Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$56.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price decreased by stock analysts at National Bankshares from C$60.00 to C$56.00 in a report issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 30.75% from the stock’s current price.

Several other brokerages have also weighed in on CAR.UN. TD Securities lifted their price target on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the company an “action list buy” rating in a research note on Monday, February 26th. Raymond James lifted their price target on Canadian Apartment Properties REIT from C$56.50 to C$60.00 in a research note on Tuesday, February 27th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating for the company in a research note on Monday, March 25th. CIBC lifted their price target on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Laurentian set a C$55.00 price target on Canadian Apartment Properties REIT and gave the company a “buy” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$56.37.

Canadian Apartment Properties REIT Stock Performance

TSE CAR.UN opened at C$42.83 on Wednesday. The company has a debt-to-equity ratio of 76.65, a quick ratio of 0.16 and a current ratio of 0.19. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$54.60. The stock has a 50-day simple moving average of C$46.79 and a two-hundred day simple moving average of C$46.74. The firm has a market capitalization of C$7.18 billion, a P/E ratio of -17.63, a PEG 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.