BMO Capital Markets Issues Pessimistic Forecast for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by equities researchers at BMO Capital Markets from C$48.00 to C$47.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 20.70% from the company’s previous close.

Several other brokerages have also recently issued reports on CAR.UN. CIBC dropped their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research note on Monday. Desjardins lowered their target price on Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a report on Friday, September 19th. Scotiabank cut their price target on Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a report on Tuesday. National Bankshares dropped their target price on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group lowered 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 report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$47.81.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN traded up C$0.63 during trading hours on Wednesday, hitting C$38.94. 449,376 shares of the stock were exchanged, compared to its average volume of 477,283. The stock’s 50-day moving average price is C$40.09 and its two-hundred day moving average price is C$42.26. Canadian Apartment Properties REIT has a 12-month low of C$36.78 and a 12-month high of C$46.61. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. The company has a market cap of C$6.09 billion, a price-to-earnings ratio of 99.14, a price-to-earnings-growth ratio of -10.12 and a beta of 0.96.

Canadian Apartment Properties REIT (TSE:CAR.UN) last announced its earnings results on Thursday, November 6th. The company reported C$0.16 earnings per share (EPS) for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The company had revenue of C$252.32 million for the quarter.

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.