Canadian Apartment Properties REIT (TSE:CAR.UN) Given a C$63.00 Price Target by National Bank Financial Analysts

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given a C$63.00 target price by investment analysts at National Bank Financial in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target points to a potential upside of 12.82% from the stock’s current price.

Several other equities research analysts also recently issued reports on CAR.UN. CIBC raised their target price on shares of Canadian Apartment Properties REIT from C$53.00 to C$55.00 in a research note on Friday, November 15th. TD Securities raised their target price on shares of Canadian Apartment Properties REIT from C$61.00 to C$63.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada raised their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “sector perform” rating in a research note on Monday, November 18th. BMO Capital Markets raised their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$57.00 in a research note on Monday, August 19th. Finally, Canaccord Genuity downgraded shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and raised their target price for the company from C$53.00 to C$55.50 in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Canadian Apartment Properties REIT has an average rating of “Buy” and an average price target of C$58.50.

Canadian Apartment Properties REIT stock opened at C$55.84 on Monday. The firm has a 50-day moving average of C$54.74 and a 200-day moving average of C$52.26. Canadian Apartment Properties REIT has a one year low of C$43.03 and a one year high of C$56.82. The company has a debt-to-equity ratio of 63.43, a current ratio of 0.18 and a quick ratio of 0.10. The company has a market cap of $8.91 billion and a price-to-earnings ratio of 6.00.

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 March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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

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