Canadian Apartment Properties REIT (TSE:CAR.UN) Cut to Sector Perform at Scotiabank

Scotiabank cut shares of Canadian Apartment Properties REIT (TSE:CAR.UN) from an outperform rating to a sector perform rating in a report issued on Thursday morning,BayStreet.CA reports. They currently have C$47.50 price objective on the stock, down from their previous price objective of C$48.50.

Separately, Canaccord Genuity Group cut shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and upped their target price for the company from C$46.00 to C$48.00 in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$52.29.

Canadian Apartment Properties REIT Stock Down 0.3%

Shares of CAR.UN stock opened at C$41.86 on Thursday. The stock has a market cap of C$7.00 billion, a P/E ratio of -130.81, a PEG ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 52 week low of C$37.28 and a 52 week high of C$56.71. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The company’s fifty day simple moving average is C$44.22 and its two-hundred day simple moving average is C$42.49.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.