Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYF) Sees Significant Growth in Short Interest

Canadian Apartment Properties Real Estate Investment Trust (OTCMKTS:CDPYFGet Rating) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 627,400 shares, an increase of 34.6% from the April 15th total of 466,200 shares. Based on an average daily volume of 4,900 shares, the days-to-cover ratio is currently 128.0 days.

CDPYF has been the topic of a number of recent research reports. Canaccord Genuity Group lowered their target price on Canadian Apartment Properties Real Estate Investment Trust from C$66.00 to C$63.00 and set a “buy” rating on the stock in a research note on Wednesday, April 6th. Raymond James decreased their price target on Canadian Apartment Properties Real Estate Investment Trust from C$70.50 to C$70.00 in a report on Friday, February 25th. Scotiabank raised shares of Canadian Apartment Properties Real Estate Investment Trust to an “outperform” rating in a research note on Monday, April 11th. Finally, National Bank Financial cut their target price on shares of Canadian Apartment Properties Real Estate Investment Trust from C$70.50 to C$62.25 in a report on Wednesday, April 27th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Canadian Apartment Properties Real Estate Investment Trust currently has a consensus rating of “Buy” and an average target price of $66.08.

Canadian Apartment Properties Real Estate Investment Trust stock opened at $37.30 on Monday. The business has a 50 day simple moving average of $40.90 and a 200-day simple moving average of $43.58. Canadian Apartment Properties Real Estate Investment Trust has a 12 month low of $35.46 and a 12 month high of $50.47.

The business also recently declared a dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 29th will be paid a $0.0957 dividend. The ex-dividend date is Thursday, April 28th. This represents a yield of 2.74%. This is a boost from Canadian Apartment Properties Real Estate Investment Trust’s previous dividend of $0.10.

Canadian Apartment Properties Real Estate Investment Trust Company Profile (Get Rating)

CAPREIT is one of Canada's largest real estate investment trusts. CAPREIT owns approximately 57,000 suites, including townhomes and manufactured housing sites, in Canada and, indirectly through its investment in ERES, approximately 5,800 suites in the Netherlands. CAPREIT manages approximately 61,200 of its owned suites in Canada and Netherlands, and additionally approximately 3,800 suites in Ireland as at September 30, 2020.

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