National Bankshares Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$56.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price lowered by National Bankshares from C$60.00 to C$56.00 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on CAR.UN. BMO Capital Markets increased their price target on 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. Scotiabank decreased their target price on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating on the stock in a report on Monday, March 25th. TD Securities raised their target price on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an action list buy rating in a report on Monday, February 26th. Laurentian set a C$55.00 target price on Canadian Apartment Properties REIT and gave the stock a buy rating in a report on Monday, January 22nd. Finally, Raymond James raised their target price on Canadian Apartment Properties REIT from C$56.50 to C$60.00 in a report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of Moderate Buy and an average price target of C$56.37.

Canadian Apartment Properties REIT Price Performance

TSE CAR.UN opened at C$43.22 on Wednesday. The business’s fifty day moving average price is C$46.50 and its 200-day moving average price is C$46.70. The stock has a market capitalization of C$7.24 billion, a price-to-earnings ratio of -17.79, a PEG ratio of -10.12 and a beta of 1.18. The company has a debt-to-equity ratio of 76.65, a current ratio of 0.19 and a quick ratio of 0.16. 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.