Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$45.00 by Analysts at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price reduced by CIBC from C$50.00 to C$45.00 in a note issued to investors on Monday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 19.97% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group lowered 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 report on Friday, August 1st. National Bankshares cut their target price on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. TD Securities decreased their price target on Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research note on Monday. Desjardins lowered their price objective on Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating for the company in a research report on Friday, September 19th. Finally, Scotiabank cut Canadian Apartment Properties REIT from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$48.50 to C$47.50 in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$49.00.

Canadian Apartment Properties REIT Trading Down 1.0%

Canadian Apartment Properties REIT stock traded down C$0.39 during trading hours on Monday, hitting C$37.51. The stock had a trading volume of 317,575 shares, compared to its average volume of 476,117. The business’s 50 day simple moving average is C$40.26 and its 200-day simple moving average is C$42.31. Canadian Apartment Properties REIT has a one year low of C$36.78 and a one year high of C$46.61. The stock has a market cap of C$5.89 billion, a price-to-earnings ratio of 74.11, a P/E/G 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.

About Canadian Apartment Properties REIT

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.