TD Securities Issues Pessimistic Forecast for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by equities research analysts at TD Securities from C$52.00 to C$49.00 in a note issued to investors on Monday,BayStreet.CA reports. TD Securities’ target price would suggest a potential upside of 30.63% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Desjardins reduced their price target on Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. Scotiabank lowered shares of Canadian Apartment Properties REIT from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$48.50 to C$47.50 in a research note on Thursday, August 14th. Canaccord Genuity Group downgraded shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$46.00 to C$48.00 in a research note on Friday, August 1st. Finally, National Bankshares dropped their price objective on shares of Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$49.00.

Canadian Apartment Properties REIT Stock Down 1.0%

CAR.UN stock traded down C$0.39 during midday trading on Monday, hitting C$37.51. The company’s stock had a trading volume of 317,575 shares, compared to its average volume of 476,117. The firm has a 50-day simple moving average of C$40.26 and a 200-day simple moving average of C$42.31. The firm has a market capitalization of C$5.89 billion, a P/E ratio of 74.11, a PEG ratio of -10.12 and a beta of 0.96. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. Canadian Apartment Properties REIT has a 52-week low of C$36.78 and a 52-week high of C$46.61.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.