Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Raised to C$62.00 at TD Securities

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective raised by TD Securities from C$60.00 to C$62.00 in a report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on CAR.UN. Raymond James raised their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$59.00 and gave the company an outperform rating in a report on Tuesday, August 13th. Royal Bank of Canada raised their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Cormark upped their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Finally, Scotiabank raised their price objective on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of Moderate Buy and an average target price of C$56.94.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN opened at C$53.29 on Wednesday. The firm has a market cap of C$8.91 billion, a PE ratio of -166.53, a PEG ratio of -10.12 and a beta of 1.23. The firm’s 50 day moving average price is C$48.66 and its 200 day moving average price is C$46.64. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.