Canadian Apartment Properties REIT (TSE:CAR.UN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$56.37.

CAR.UN has been the subject of several research reports. Laurentian set a C$55.00 price objective on shares of Canadian Apartment Properties REIT and gave the company a “buy” rating in a research report on Monday, January 22nd. BMO Capital Markets upped their price target on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an “outperform” rating in a report on Monday, February 26th. National Bankshares decreased 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 report on Wednesday, April 24th. Raymond James reduced their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, CIBC lifted their price target on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th.

Canadian Apartment Properties REIT Stock Up 1.3 %

Canadian Apartment Properties REIT stock opened at C$45.50 on Thursday. The company’s 50-day moving average price is C$45.61 and its two-hundred day moving average price is C$46.66. The stock has a market cap of C$7.63 billion, a price-to-earnings ratio of -18.72, a PEG ratio of -10.12 and a beta of 1.18. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$54.60. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65.

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.