Canadian Apartment Properties REIT (TSE:CAR.UN) Upgraded by National Bank Financial to Outperform

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National Bank Financial upgraded shares of Canadian Apartment Properties REIT (TSE:CAR.UN) from a sector perform rating to an outperform rating in a research note issued to investors on Thursday morning, BayStreet.CA reports. National Bank Financial currently has C$57.00 target price on the stock, up from their previous target price of C$52.00.

Other analysts have also issued research reports about the company. Royal Bank of Canada raised their target price on Canadian Apartment Properties REIT from C$53.00 to C$54.00 and gave the company a sector perform rating in a report on Thursday, May 16th. CIBC raised their target price on Canadian Apartment Properties REIT from C$50.00 to C$52.00 in a report on Thursday, May 16th. TD Securities raised their target price on Canadian Apartment Properties REIT from C$57.00 to C$58.00 and gave the company a buy rating in a report on Thursday. BMO Capital Markets raised their target price on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company an outperform rating in a report on Monday, June 3rd. Finally, Raymond James reaffirmed an outperform rating and issued a C$52.00 target price on shares of Canadian Apartment Properties REIT in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Canadian Apartment Properties REIT currently has an average rating of Buy and a consensus target price of C$54.29.

CAR.UN opened at C$52.75 on Thursday. The firm has a market capitalization of $4.04 billion and a P/E ratio of 5.88. The stock’s 50 day moving average price is C$49.42 and its two-hundred day moving average price is C$49.28. The company has a quick ratio of 0.08, a current ratio of 0.14 and a debt-to-equity ratio of 64.68. Canadian Apartment Properties REIT has a 12-month low of C$43.03 and a 12-month high of C$52.10.

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.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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