TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$60.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price decreased by research analysts at TD Securities from C$63.00 to C$60.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. TD Securities’ target price would indicate a potential upside of 39.44% from the company’s previous close.

A number of other equities analysts have also recently issued reports on CAR.UN. Scotiabank dropped their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Raymond James lowered their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating on the stock in a research note on Wednesday. CIBC increased their price objective on shares of 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. BMO Capital Markets increased their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, Laurentian set a C$55.00 price objective on shares of Canadian Apartment Properties REIT and gave the stock a “buy” rating in a research note on Monday, January 22nd. Two 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Stock Down 0.0 %

Shares of TSE:CAR.UN traded down C$0.01 during midday trading on Wednesday, reaching C$43.03. The company’s stock had a trading volume of 157,149 shares, compared to its average volume of 394,248. The firm has a 50 day moving average of C$47.03 and a 200-day moving average of C$46.79. The firm has a market capitalization of C$7.21 billion, a P/E ratio of -17.71, a PEG ratio of -10.12 and a beta of 1.18. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65. Canadian Apartment Properties REIT has a 12-month low of C$40.52 and a 12-month high of C$54.60.

Canadian Apartment Properties REIT Company Profile

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.