Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$57.10 Consensus Price Target from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$57.10.

Several equities research analysts recently commented on CAR.UN shares. TD Securities boosted their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Royal Bank of Canada boosted their price objective on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Scotiabank boosted their price objective on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research report on Friday, August 9th. Raymond James boosted their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. Finally, Cormark boosted their price objective on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th.

Canadian Apartment Properties REIT Price Performance

Shares of TSE CAR.UN opened at C$54.70 on Wednesday. The firm has a market capitalization of C$9.14 billion, a P/E ratio of -170.94, a PEG ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a one year low of C$40.52 and a one year high of C$56.71. The company’s fifty day moving average is C$50.21 and its two-hundred day moving average is C$46.93. 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 Company Profile

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.