Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$46.00 at TD Securities

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target cut by TD Securities from C$47.00 to C$46.00 in a research report report published on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Scotiabank cut their price target on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research report on Tuesday, November 11th. BMO Capital Markets lowered their target price on Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research note on Wednesday, November 12th. Finally, Canadian Imperial Bank of Commerce dropped their target price on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a report on Monday, November 10th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$47.44.

Canadian Apartment Properties REIT Stock Up 1.0%

Shares of TSE CAR.UN opened at C$38.01 on Tuesday. The stock has a market capitalization of C$5.85 billion, a P/E ratio of 96.77, a PEG ratio of -10.12 and a beta of 0.86. Canadian Apartment Properties REIT has a one year low of C$35.32 and a one year high of C$46.29. The firm’s 50 day simple moving average is C$37.92 and its two-hundred day simple moving average is C$39.30. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its quarterly earnings data on Thursday, February 12th. The company reported C$0.56 earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The company had revenue of C$243.30 million during the quarter.

Canadian Apartment Properties REIT Company Profile

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. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.