Canadian Apartment Properties REIT (TSE:CAR.UN) Given Average Rating of “Moderate Buy” by Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$57.96.

A number of research analysts recently issued reports on the company. Cormark boosted their price objective on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research note on Tuesday, August 13th. Raymond James upped their price target on shares of Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research report on Friday, September 6th. Scotiabank decreased their price objective on shares of Canadian Apartment Properties REIT from C$55.75 to C$55.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Finally, BMO Capital Markets decreased their price target on Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a report on Monday, October 28th.

Canadian Apartment Properties REIT Price Performance

TSE CAR.UN opened at C$45.36 on Thursday. The business’s fifty day moving average is C$51.78 and its 200 day moving average is C$47.96. Canadian Apartment Properties REIT has a fifty-two week low of C$41.92 and a fifty-two week high of C$56.71. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The company has a market capitalization of C$7.58 billion, a PE ratio of -141.75, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23.

Canadian Apartment Properties REIT Company Profile

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.