Raymond James Raises Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$59.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lifted by Raymond James from C$58.00 to C$59.00 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. TD Securities decreased their price objective on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research note on Wednesday, April 24th. Scotiabank boosted their target price on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. National Bankshares reduced their target price on 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, April 24th. Finally, Cormark lifted their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$56.77.

Canadian Apartment Properties REIT Stock Up 0.6 %

Shares of Canadian Apartment Properties REIT stock opened at C$49.61 on Tuesday. Canadian Apartment Properties REIT has a 12-month low of C$40.52 and a 12-month high of C$54.60. The firm has a market capitalization of C$8.29 billion, a PE ratio of -66.51, a price-to-earnings-growth ratio of -10.12 and a beta of 1.19. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 75.56. The stock’s fifty day moving average is C$46.36 and its 200-day moving average is C$46.31.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.