Canadian Apartment Properties REIT (TSE:CAR.UN) Given Consensus Rating of “Buy” by Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UNGet Rating) have been given an average recommendation of “Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$66.17.

Several equities research analysts recently commented on the stock. TD Securities reduced their price target on shares of Canadian Apartment Properties REIT from C$70.00 to C$66.00 and set an “action list buy” rating for the company in a research report on Wednesday, May 18th. CIBC dropped their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 18th. Scotiabank dropped their price objective on shares of Canadian Apartment Properties REIT from C$64.50 to C$63.00 in a research note on Wednesday, May 18th. Raymond James dropped their price objective on shares of Canadian Apartment Properties REIT from C$70.00 to C$66.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, May 18th. Finally, Royal Bank of Canada dropped their price objective on shares of Canadian Apartment Properties REIT from C$69.00 to C$66.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 18th.

Shares of TSE:CAR.UN opened at C$46.60 on Friday. The company has a debt-to-equity ratio of 66.42, a quick ratio of 0.13 and a current ratio of 0.18. The company has a market cap of C$8.10 billion and a PE ratio of 6.11. Canadian Apartment Properties REIT has a 52 week low of C$45.87 and a 52 week high of C$62.77. The firm has a 50 day simple moving average of C$49.59 and a 200 day simple moving average of C$53.74.

About Canadian Apartment Properties REIT (Get Rating)

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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