National Bankshares Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$56.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by analysts at National Bankshares from C$60.00 to C$56.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 30.75% from the stock’s previous close.

CAR.UN has been the subject of a number of other research reports. Raymond James increased their target price on shares of Canadian Apartment Properties REIT from C$56.50 to C$60.00 in a report on Tuesday, February 27th. Laurentian set a C$55.00 target price on shares of Canadian Apartment Properties REIT and gave the stock a “buy” rating in a report on Monday, January 22nd. TD Securities increased their target price on shares of Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an “action list buy” rating in a report on Monday, February 26th. CIBC increased their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Finally, Scotiabank lowered their price objective 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. Two investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$56.37.

Canadian Apartment Properties REIT Stock Down 0.4 %

CAR.UN stock opened at C$42.83 on Wednesday. The stock has a market capitalization of C$7.18 billion, a P/E ratio of -17.63, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65. Canadian Apartment Properties REIT has a 12 month low of C$40.52 and a 12 month high of C$54.60. The firm has a 50-day moving average price of C$46.79 and a 200-day moving average price of C$46.74.

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.