Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) Target Price at C$46.56

Canadian Apartment Properties REIT (TSE:CAR.UN) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$46.56.

Separately, TD dropped their price target on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a research report on Monday, May 11th.

Canadian Apartment Properties REIT Stock Down 1.9%

CAR.UN stock opened at C$34.36 on Friday. 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 50 day simple moving average is C$35.02 and its 200-day simple moving average is C$36.36. Canadian Apartment Properties REIT has a 12 month low of C$33.15 and a 12 month high of C$45.97. The firm has a market capitalization of C$5.26 billion, a PE ratio of 4,028.61, a P/E/G ratio of -10.12 and a beta of 0.81.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($1.19) earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.The company had revenue of C$247.90 million for the quarter.

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. 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.