Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) PT at C$56.30

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$56.30.

A number of research firms have weighed in on CAR.UN. Raymond James decreased their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. TD Securities reduced their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research report on Wednesday, April 24th. National Bankshares reduced their price target on shares of 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, April 24th. Scotiabank increased their price target on shares of Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada reduced their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$58.00 in a research report on Friday, May 10th.

Canadian Apartment Properties REIT Stock Performance

TSE:CAR.UN opened at C$44.59 on Friday. The company has a debt-to-equity ratio of 76.89, a current ratio of 0.17 and a quick ratio of 0.16. The firm has a 50-day moving average of C$44.31 and a two-hundred day moving average of C$46.31. The stock has a market cap of C$7.45 billion, a P/E ratio of -59.45, a PEG ratio of -10.12 and a beta of 1.19. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$54.60.

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.