Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) PT at C$57.96

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$57.96.

Several analysts have recently weighed in on the stock. Cormark lifted their target price on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. National Bankshares lifted their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a research report on Wednesday, October 9th. Raymond James lifted their target price on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. Scotiabank decreased their target price on shares of Canadian Apartment Properties REIT from C$55.75 to C$55.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Finally, BMO Capital Markets decreased their target price on shares of Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a research report on Monday, October 28th.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN opened at C$45.55 on Thursday. The company has a market capitalization of C$7.61 billion, a PE ratio of -142.34, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a one year low of C$41.92 and a one year high of C$56.71. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company’s fifty day moving average price is C$52.16 and its 200 day moving average price is C$47.92.

Canadian Apartment Properties REIT Company Profile

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.