Brokerages Set Canadian Apartment Properties REIT (TSE:CAR.UN) PT at C$57.17

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$57.17.

A number of equities research analysts recently weighed in on CAR.UN shares. Scotiabank reduced their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. Raymond James reduced their target price on Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. National Bankshares dropped their price target on Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. CIBC boosted their price objective on Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Finally, TD Securities cut their target price on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th.

Canadian Apartment Properties REIT Stock Performance

TSE:CAR.UN opened at C$42.51 on Friday. Canadian Apartment Properties REIT has a 12 month low of C$41.67 and a 12 month high of C$56.71. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The firm has a market capitalization of C$7.11 billion, a PE ratio of -132.84, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The business’s fifty day moving average price is C$45.74 and its 200 day moving average price is C$48.06.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.