Analysts Set Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target at C$57.10

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$57.10.

Several equities research analysts have recently commented on the stock. Scotiabank lowered their price objective on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating for the company in a research note on Monday, March 25th. BMO Capital Markets lifted their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. TD Securities lifted their price objective on shares of Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an “action list buy” rating in a research note on Monday, February 26th. National Bankshares boosted their target price on shares of Canadian Apartment Properties REIT from C$55.50 to C$60.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Finally, CIBC boosted their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a “neutral” rating in a research report on Monday, February 26th.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN opened at C$42.32 on Friday. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60. The company has a 50 day moving average of C$47.29 and a two-hundred day moving average of C$46.77. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65. The company has a market cap of C$7.09 billion, a price-to-earnings ratio of -17.42, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18.

Canadian Apartment Properties REIT Company Profile

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.