Canadian Apartment Properties REIT (TSE:CAR.UN) PT Raised to C$55.75

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective raised by analysts at Scotiabank from C$54.25 to C$55.75 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 1.70% from the company’s current price.

A number of other research analysts have also issued reports on CAR.UN. Royal Bank of Canada boosted their price target on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. CIBC increased their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research report on Wednesday. Cormark boosted their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Raymond James raised their price objective on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Finally, BMO Capital Markets boosted their target price on Canadian Apartment Properties REIT from C$57.00 to C$61.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$57.81.

Canadian Apartment Properties REIT Price Performance

TSE CAR.UN opened at C$54.82 on Wednesday. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$56.71. The stock has a market cap of C$9.16 billion, a price-to-earnings ratio of -171.31, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company has a 50-day moving average price of C$50.71 and a two-hundred day moving average price of C$47.07. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05.

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.