Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$56.60 by Analysts at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target cut by Raymond James from C$60.00 to C$56.60 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on CAR.UN. National Bankshares dropped their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a research report on Wednesday. Laurentian set a C$55.00 target price on shares of Canadian Apartment Properties REIT and gave the company a buy rating in a research report on Monday, January 22nd. BMO Capital Markets boosted their target price on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an outperform rating in a research report on Monday, February 26th. Scotiabank lowered their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating for the company in a research report on Monday, March 25th. Finally, TD Securities upped their price objective on shares of Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an action list buy rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of Moderate Buy and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$43.00 on Wednesday. The firm has a 50 day moving average of C$46.92 and a 200-day moving average of C$46.77. The stock has a market capitalization of C$7.21 billion, a PE ratio of -17.70, a PEG ratio of -10.12 and a beta of 1.18. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65. Canadian Apartment Properties REIT has a 12 month low of C$40.52 and a 12 month high of C$54.60.

Canadian Apartment Properties REIT Company Profile

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.