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

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$57.10.

A number of research firms have recently issued reports on CAR.UN. CIBC lifted their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Raymond James lifted their price objective on shares of Canadian Apartment Properties REIT from C$56.50 to C$60.00 in a report on Tuesday, February 27th. Laurentian set a C$55.00 price objective on shares of Canadian Apartment Properties REIT and gave the company a “buy” rating in a report on Monday, January 22nd. National Bankshares lifted their price objective on shares of Canadian Apartment Properties REIT from C$55.50 to C$60.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Finally, BMO Capital Markets lifted their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an “outperform” rating in a report on Monday, February 26th.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN opened at C$42.67 on Friday. The company has a debt-to-equity ratio of 76.65, a quick ratio of 0.16 and a current ratio of 0.19. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60. The firm’s 50 day moving average price is C$47.16 and its two-hundred day moving average price is C$46.78. The firm has a market cap of C$7.15 billion, a P/E ratio of -17.56, a PEG ratio of -10.12 and a beta of 1.18.

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.