National Bank Financial Reiterates “C$51.00” Price Target for Canadian Apartment Properties REIT (CAR.UN)

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given a C$51.00 target price by National Bank Financial in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 6.87% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Raymond James reissued an “outperform” rating and set a C$52.00 target price on shares of Canadian Apartment Properties REIT in a research note on Thursday, February 28th. CIBC boosted their target price on Canadian Apartment Properties REIT from C$49.00 to C$50.00 in a research note on Thursday, February 28th. Royal Bank of Canada upped their price target on Canadian Apartment Properties REIT from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 5th. TD Securities raised Canadian Apartment Properties REIT from a “hold” rating to a “buy” rating and upped their price target for the stock from C$51.00 to C$52.00 in a research note on Monday, January 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a C$51.00 price target on shares of Canadian Apartment Properties REIT in a research note on Sunday, January 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of C$50.03.

CAR.UN opened at C$47.72 on Tuesday. The company has a debt-to-equity ratio of 71.85, a quick ratio of 0.06 and a current ratio of 0.15. Canadian Apartment Properties REIT has a 52-week low of C$31.93 and a 52-week high of C$37.94. The company has a market cap of $7.20 billion and a PE ratio of 7.92.



About Canadian Apartment Properties REIT

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at December 31, 2018, CAPREIT had owning interests in 51,528 residential units, comprised of 44,935 residential suites and 32 MHC comprising 6,593 land lease sites.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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