Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$56.30 Consensus PT from Analysts

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$56.30.

Several equities analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Raymond James reduced their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. National Bankshares lowered their price objective on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. TD Securities reduced their target price on Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada lowered their price target on Canadian Apartment Properties REIT from C$60.00 to C$58.00 in a report on Friday, May 10th.

Canadian Apartment Properties REIT Stock Performance

TSE:CAR.UN opened at C$45.10 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 76.89. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60. The company has a market capitalization of C$7.54 billion, a P/E ratio of -60.13, a price-to-earnings-growth ratio of -10.12 and a beta of 1.19. The firm has a 50-day moving average price of C$44.40 and a two-hundred day moving average price of C$46.29.

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.