Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$56.60 by Analysts at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by Raymond James from C$60.00 to C$56.60 in a report issued on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the company. CIBC boosted their price target on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a neutral rating in a research note on Monday, February 26th. TD Securities boosted their target price on 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. Laurentian set a C$55.00 target price on Canadian Apartment Properties REIT and gave the stock a buy rating in a research note on Monday, January 22nd. Scotiabank lowered their target price on 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. Finally, National Bankshares lowered their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of C$56.37.

Canadian Apartment Properties REIT Stock Up 0.9 %

CAR.UN stock opened at C$43.22 on Wednesday. The company has a market cap of C$7.24 billion, a PE ratio of -17.79, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. The business has a 50-day simple moving average of C$46.50 and a 200 day simple moving average of C$46.70. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$54.60. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 76.65.

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.