Canadian Apartment Properties REIT (TSE:CAR.UN) PT Raised to C$61.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price raised by BMO Capital Markets from C$57.00 to C$61.00 in a research report report published on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

CAR.UN has been the topic of several other research reports. Cormark raised their price objective on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. Royal Bank of Canada raised their price objective on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Scotiabank raised their price objective on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a report on Friday, August 9th. TD Securities raised their price objective on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a buy rating in a report on Wednesday, September 4th. Finally, Raymond James increased their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$57.81.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$55.72 on Wednesday. The business’s fifty day moving average price is C$50.88 and its two-hundred day moving average price is C$47.12. The stock has a market cap of C$9.31 billion, a PE ratio of -174.13, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. Canadian Apartment Properties REIT has a one year low of C$40.52 and a one year 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.