Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective lifted by National Bank Financial from C$51.00 to C$52.00 in a report issued on Thursday, BayStreet.CA reports.
Other equities research analysts also recently issued research reports about the stock. Raymond James restated an outperform rating and issued a C$52.00 price target on shares of Canadian Apartment Properties REIT in a research report on Thursday, February 28th. CIBC upped their price objective on shares of Canadian Apartment Properties REIT from C$49.00 to C$50.00 in a research note on Thursday, February 28th. Royal Bank of Canada upped their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$53.00 and gave the company a sector perform rating in a research note on Tuesday, March 5th. Finally, TD Securities upped their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$54.00 and gave the company a buy rating in a research note on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Canadian Apartment Properties REIT currently has a consensus rating of Buy and an average price target of C$51.56.
Shares of TSE:CAR.UN traded down C$0.54 during mid-day trading on Thursday, hitting C$48.88. The stock had a trading volume of 132,483 shares, compared to its average volume of 310,604. The company has a debt-to-equity ratio of 71.85, a quick ratio of 0.06 and a current ratio of 0.15. The company has a market cap of $7.39 billion and a PE ratio of 8.11. Canadian Apartment Properties REIT has a 12-month low of C$31.93 and a 12-month high of C$37.94.
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 December 31, 2018, CAPREIT had owning interests in 51,528 residential units, comprised of 44,935 residential suites and 32 MHC comprising 6,593 land lease sites.
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