Canadian Apartment Properties REIT (TSE:CAR.UN) PT Lowered to C$56.60 at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by Raymond James from C$60.00 to C$56.60 in a report released on Wednesday, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. TD Securities lifted their target price on 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. National Bankshares lowered their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a report on Wednesday. CIBC lifted their target price on 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. Laurentian set a C$55.00 target price on Canadian Apartment Properties REIT and gave the stock a buy rating in a report on Monday, January 22nd. Finally, Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating for the company in a report on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian Apartment Properties REIT has a consensus rating of Moderate Buy and a consensus price target of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN opened at C$43.22 on Wednesday. The company has a market capitalization of C$7.24 billion, a price-to-earnings ratio of -17.79, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. The business has a 50-day moving average of C$46.65 and a 200-day moving average of C$46.72. The company has a debt-to-equity ratio of 76.65, a current ratio of 0.19 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 1 year low of C$40.52 and a 1 year high of C$54.60.

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.