National Bank Financial Raises Canadian Apartment Properties REIT (CAR.UN) Price Target to C$52.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price raised by equities researchers at National Bank Financial from C$51.00 to C$52.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. National Bank Financial’s price target would indicate a potential upside of 5.54% from the company’s current price.

CAR.UN has been the topic of several other research reports. Royal Bank of Canada raised their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 5th. Raymond James reissued an “outperform” rating and set a C$52.00 price objective on shares of Canadian Apartment Properties REIT in a research note on Thursday, February 28th. TD Securities lifted their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research note on Thursday, February 28th. Finally, CIBC raised their target price on shares of Canadian Apartment Properties REIT from C$49.00 to C$50.00 in a report on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of C$51.56.

CAR.UN traded up C$0.15 during midday trading on Thursday, hitting C$49.27. The company had a trading volume of 119,624 shares, compared to its average volume of 310,604. The company has a current ratio of 0.15, a quick ratio of 0.06 and a debt-to-equity ratio of 71.85. The stock has a market capitalization of $7.45 billion and a PE ratio of 8.17. Canadian Apartment Properties REIT has a twelve month low of C$31.93 and a twelve month high of C$37.94.

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 December 31, 2018, CAPREIT had owning interests in 51,528 residential units, comprised of 44,935 residential suites and 32 MHC comprising 6,593 land lease sites.

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

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