Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$60.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by TD Securities from C$63.00 to C$60.00 in a report published on Wednesday, BayStreet.CA reports.

A number of other analysts also recently issued reports on the company. Laurentian set a C$55.00 price target on Canadian Apartment Properties REIT and gave the stock a buy rating in a research report on Monday, January 22nd. Scotiabank lowered their price target on 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. BMO Capital Markets raised their price target on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an outperform rating in a research report on Monday, February 26th. National Bankshares lowered their price target on 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. Finally, Raymond James decreased their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an outperform rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian Apartment Properties REIT presently has a consensus rating of Moderate Buy and a consensus price target of C$56.37.

Canadian Apartment Properties REIT Stock Down 0.1 %

Shares of CAR.UN opened at C$43.00 on Wednesday. The company has a market cap of C$7.21 billion, a PE ratio of -17.70, a P/E/G ratio of -10.12 and a beta of 1.18. The business has a fifty day moving average of C$46.92 and a 200 day moving average of C$46.77. Canadian Apartment Properties REIT has a 52-week low of C$40.52 and a 52-week high of C$54.60. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65.

About Canadian Apartment Properties REIT

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.