Canadian Apartment Properties REIT (TSE:CAR.UN) Receives Average Recommendation of “Buy” from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$67.22.

Several equities analysts recently issued reports on CAR.UN shares. Scotiabank boosted their price target on shares of Canadian Apartment Properties REIT from C$61.00 to C$63.50 in a research report on Monday, August 16th. Royal Bank of Canada upped their price objective on shares of Canadian Apartment Properties REIT from C$65.00 to C$68.00 and gave the stock an “outperform” rating in a report on Monday, August 16th. BMO Capital Markets upped their price objective on shares of Canadian Apartment Properties REIT from C$62.00 to C$68.50 and gave the stock a “na” rating in a report on Tuesday, August 17th. CIBC upped their price objective on shares of Canadian Apartment Properties REIT to C$65.00 and gave the stock a “neutral” rating in a report on Monday, August 16th. Finally, Raymond James upped their price objective on shares of Canadian Apartment Properties REIT from C$68.00 to C$70.50 and gave the stock a “strong-buy” rating in a report on Monday, August 16th.

Shares of TSE:CAR.UN traded down C$0.12 during midday trading on Friday, hitting C$60.84. 50,671 shares of the stock traded hands, compared to its average volume of 336,236. The stock has a market capitalization of C$10.50 billion and a PE ratio of 7.85. The business’s 50 day moving average is C$61.36 and its two-hundred day moving average is C$57.74. The company has a quick ratio of 0.18, a current ratio of 0.23 and a debt-to-equity ratio of 62.11. Canadian Apartment Properties REIT has a one year low of C$42.22 and a one year high of C$62.77.

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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