Analysts Set Canadian Apartment Properties REIT (TSE:CAR.UN) PT at C$55.36

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have been given a consensus rating of “Buy” by the seven analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$55.36.

A number of analysts recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a C$52.00 price objective on shares of Canadian Apartment Properties REIT in a report on Thursday, August 15th. Royal Bank of Canada increased their price objective on shares of Canadian Apartment Properties REIT from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Canaccord Genuity cut shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and raised their target price for the company from C$53.00 to C$55.50 in a research note on Wednesday, September 4th. TD Securities raised their price objective on shares of Canadian Apartment Properties REIT from C$57.00 to C$58.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets raised their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$57.00 in a research report on Monday, August 19th.

CAR.UN stock opened at C$54.08 on Tuesday. The company has a quick ratio of 0.07, a current ratio of 0.14 and a debt-to-equity ratio of 60.98. Canadian Apartment Properties REIT has a fifty-two week low of C$43.03 and a fifty-two week high of C$54.65. The firm’s 50-day simple moving average is C$52.20 and its 200 day simple moving average is C$50.13. The stock has a market cap of $8.65 billion and a PE ratio of 6.64.

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.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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