Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$60.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by equities researchers at TD Securities from C$63.00 to C$60.00 in a research report issued on Wednesday, BayStreet.CA reports. TD Securities’ price target suggests a potential upside of 40.09% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. 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. BMO Capital Markets boosted 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. Raymond James dropped their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank dropped their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating for the company in a report on Monday, March 25th. Finally, National Bankshares dropped their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$56.37.

Canadian Apartment Properties REIT Price Performance

Canadian Apartment Properties REIT stock opened at C$42.83 on Wednesday. The company’s 50 day simple moving average is C$46.79 and its 200-day simple moving average is C$46.74. The company has a market capitalization of C$7.18 billion, a price-to-earnings ratio of -17.63, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. 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 debt-to-equity ratio of 76.65, a quick ratio of 0.16 and a current ratio of 0.19.

Canadian Apartment Properties REIT Company Profile

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.