TD Securities Issues Pessimistic Forecast for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective decreased by equities researchers at TD Securities from C$62.00 to C$58.00 in a report released on Monday,BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 28.63% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada increased their target price on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. National Bankshares increased their target price on Canadian Apartment Properties REIT from C$58.00 to C$63.00 in a report on Wednesday, October 9th. Raymond James increased their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a report on Friday, September 6th. Cormark increased their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday, August 13th. Finally, CIBC increased their price target on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and an average price target of C$56.91.

Canadian Apartment Properties REIT Stock Performance

TSE:CAR.UN opened at C$45.09 on Monday. The company has a market capitalization of C$7.54 billion, a PE ratio of -140.91, a P/E/G ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a fifty-two week low of C$41.92 and a fifty-two week high of C$56.71. The company has a 50 day simple moving average of C$51.37 and a two-hundred day simple moving average of C$48.08. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36.

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.