BMO Capital Markets Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$47.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lowered by equities researchers at BMO Capital Markets from C$48.00 to C$47.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 21.45% from the company’s current price.

Several other brokerages have also issued reports on CAR.UN. TD Securities lowered their price target on shares of Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research note on Monday. Scotiabank decreased their price objective on Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a report on Tuesday. Canaccord Genuity Group downgraded Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and lifted their target price for the company from C$46.00 to C$48.00 in a research report on Friday, August 1st. National Bankshares dropped their target price on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, Desjardins reduced their price target on Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating for the company in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$47.81.

Canadian Apartment Properties REIT Trading Down 0.9%

TSE:CAR.UN opened at C$38.70 on Wednesday. The company has a market cap of C$6.05 billion, a P/E ratio of 98.53, a price-to-earnings-growth ratio of -10.12 and a beta of 0.96. Canadian Apartment Properties REIT has a twelve month low of C$36.78 and a twelve month high of C$46.61. The business has a 50 day moving average price of C$39.95 and a two-hundred day moving average price of C$42.22. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.16 earnings per share (EPS) for the quarter. The company had revenue of C$252.32 million for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

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.