Scotiabank Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$53.75

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price decreased by Scotiabank from C$55.00 to C$53.75 in a research note published on Monday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on CAR.UN. CIBC lifted their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a neutral rating in a research report on Monday, February 26th. Canaccord Genuity Group downgraded shares of Canadian Apartment Properties REIT from a buy rating to a hold rating and lifted their price target for the company from C$50.50 to C$53.50 in a research report on Wednesday, December 20th. BMO Capital Markets lifted their price target on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an outperform rating in a research report on Monday, February 26th. National Bankshares lifted their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$60.00 and gave the company an outperform rating in a research report on Monday, February 26th. Finally, Desjardins lifted their price objective on shares of Canadian Apartment Properties REIT from C$54.00 to C$58.00 and gave the company a buy rating in a research note on Monday, December 11th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of C$57.10.

Canadian Apartment Properties REIT Trading Up 0.2 %

Shares of CAR.UN stock opened at C$46.49 on Monday. The firm has a 50 day moving average price of C$48.25 and a two-hundred day moving average price of C$47.12. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65. The company has a market capitalization of C$7.79 billion, a PE ratio of -19.13, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. Canadian Apartment Properties REIT has a 12-month low of C$40.52 and a 12-month 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.