Canadian Apartment Properties REIT (TSE:CAR.UN – Get Rating) had its target price decreased by research analysts at TD Securities from C$70.00 to C$66.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has an “action list buy” rating on the stock. TD Securities’ price target indicates a potential upside of 37.96% from the stock’s current price.
Other research analysts have also recently issued reports about the company. CIBC lowered their target price on Canadian Apartment Properties REIT from C$63.00 to C$60.00 and set a “neutral” rating on the stock in a report on Wednesday. Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$64.50 to C$63.00 in a report on Wednesday. Finally, Raymond James decreased their price objective on Canadian Apartment Properties REIT from C$70.00 to C$66.00 and set a “strong-buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$66.17.
Shares of Canadian Apartment Properties REIT stock traded up C$0.13 on Wednesday, hitting C$47.84. 133,423 shares of the company were exchanged, compared to its average volume of 507,489. The stock has a market capitalization of C$8.31 billion and a price-to-earnings ratio of 5.99. The company has a 50-day moving average price of C$51.68 and a 200 day moving average price of C$55.12. Canadian Apartment Properties REIT has a 1-year low of C$45.87 and a 1-year high of C$62.77. The company has a quick ratio of 0.10, a current ratio of 0.14 and a debt-to-equity ratio of 62.16.
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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