Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$60.00 at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UNGet Rating) had its target price lowered by CIBC from C$63.00 to C$60.00 in a report issued on Wednesday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the stock. Scotiabank decreased their price target on shares of Canadian Apartment Properties REIT from C$64.50 to C$63.00 in a report on Wednesday. Raymond James set a C$70.00 target price on shares of Canadian Apartment Properties REIT and gave the company a strong-buy rating in a report on Tuesday, May 17th. Finally, TD Securities raised shares of Canadian Apartment Properties REIT from a buy rating to an action list buy rating and set a C$70.00 target price on the stock in a report on Tuesday, March 15th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Canadian Apartment Properties REIT currently has a consensus rating of Buy and a consensus target price of C$66.17.

Shares of TSE:CAR.UN opened at C$48.62 on Wednesday. The company’s fifty day moving average price is C$51.36 and its 200-day moving average price is C$54.87. The firm has a market capitalization of C$8.45 billion and a price-to-earnings ratio of 6.08. Canadian Apartment Properties REIT has a one year low of C$45.87 and a one year high of C$62.77. The company has a debt-to-equity ratio of 62.16, a current ratio of 0.14 and a quick ratio of 0.10.

About Canadian Apartment Properties REIT (Get Rating)

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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