Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$55.50

Canadian Apartment Properties REIT (TSE:CAR.UNGet Free Report) had its price target decreased by Scotiabank from C$55.75 to C$55.50 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 8.72% from the company’s current price.

Other equities analysts also recently issued reports about the company. Cormark increased their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Raymond James increased their price target on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. TD Securities increased their price target on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. BMO Capital Markets raised their target price on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, National Bankshares raised their target price on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$58.38.

Check Out Our Latest Report on CAR.UN

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN stock opened at C$51.05 on Wednesday. The business’s fifty day simple moving average is C$52.43 and its 200-day simple moving average is C$47.68. The company has a market cap of C$8.53 billion, a PE ratio of -159.31, a PEG ratio of -10.12 and a beta of 1.23. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a 12-month low of C$40.52 and a 12-month high of C$56.71.

About Canadian Apartment Properties REIT

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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.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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