Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$56.60 by Analysts at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price trimmed by Raymond James from C$60.00 to C$56.60 in a research report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. National Bankshares decreased their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating on the stock in a research note on Wednesday. Laurentian set a C$55.00 price target on shares of Canadian Apartment Properties REIT and gave the company a buy rating in a research note on Monday, January 22nd. TD Securities increased their price target on shares of Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the company an action list buy rating in a research note on Monday, February 26th. Scotiabank decreased their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating on the stock in a research note on Monday, March 25th. Finally, BMO Capital Markets increased their price target on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an outperform rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of Canadian Apartment Properties REIT stock opened at C$43.00 on Wednesday. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$54.60. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65. The firm’s 50-day moving average price is C$46.92 and its two-hundred day moving average price is C$46.77. The stock has a market capitalization of C$7.21 billion, a price-to-earnings ratio of -17.70, a P/E/G ratio of -10.12 and a beta of 1.18.

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.