Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$56.60 Price Target at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price cut by equities research analysts at Raymond James from C$60.00 to C$56.60 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 31.54% from the stock’s current price.

CAR.UN has been the subject of a number of other research reports. TD Securities boosted their price objective on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the company an “action list buy” rating in a report on Monday, February 26th. National Bankshares dropped their price objective on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a report on Wednesday. CIBC boosted their price objective on 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. Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating for the company in a report on Monday, March 25th. Finally, BMO Capital Markets upped their target price on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Two 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$56.37.

Canadian Apartment Properties REIT Trading Down 0.0 %

CAR.UN traded down C$0.01 during trading hours on Wednesday, reaching C$43.03. 157,149 shares of the company’s stock traded hands, compared to its average volume of 394,248. The firm has a 50-day moving average price of C$47.03 and a 200 day moving average price of C$46.79. Canadian Apartment Properties REIT has a 52-week low of C$40.52 and a 52-week high of C$54.60. 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 firm has a market capitalization of C$7.21 billion, a PE ratio of -17.71, 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.