Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Increased to C$60.00 by Analysts at Royal Bank of Canada

Canadian Apartment Properties REIT (TSE:CAR.UN – Get Rating) had its price objective boosted by Royal Bank of Canada from C$59.00 to C$60.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

CAR.UN has been the subject of several other research reports. Canaccord Genuity Group increased their price target on Canadian Apartment Properties REIT from C$51.00 to C$53.00 in a report on Friday, January 27th. Raymond James increased their price target on Canadian Apartment Properties REIT from C$58.00 to C$60.00 and gave the company a strong-buy rating in a report on Friday, February 24th. TD Securities increased their price target on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the company an action list buy rating in a report on Friday, February 24th. BMO Capital Markets raised their target price on Canadian Apartment Properties REIT from C$50.00 to C$54.00 in a research note on Monday, February 27th. Finally, CIBC raised their target price on Canadian Apartment Properties REIT from C$50.00 to C$53.00 and gave the stock a neutral rating in a research note on Friday, February 24th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of C$57.69.

Canadian Apartment Properties REIT Price Performance

TSE:CAR.UN opened at C$48.15 on Tuesday. Canadian Apartment Properties REIT has a one year low of C$39.08 and a one year high of C$50.96. The company has a debt-to-equity ratio of 70.23, a quick ratio of 0.16 and a current ratio of 0.25. The stock has a market cap of C$8.15 billion, a PE ratio of 601.88, a P/E/G ratio of -10.12 and a beta of 1.07. The stock has a 50 day moving average price of C$47.75 and a 200 day moving average price of C$46.28.

Canadian Apartment Properties REIT Company Profile

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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.