Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$60.00 at TD Securities

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective lowered by TD Securities from C$63.00 to C$60.00 in a research report report published on Wednesday morning, BayStreet.CA reports.

Other analysts have also recently issued research reports about the company. CIBC raised their price objective on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a neutral rating in a research report on Monday, February 26th. BMO Capital Markets raised their price objective on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an outperform rating in a research report on Monday, February 26th. 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 report on Monday, March 25th. National Bankshares lowered their price objective on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a research report on Wednesday. Finally, Raymond James lowered their price objective on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an outperform rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$56.37.

Canadian Apartment Properties REIT Stock Up 0.9 %

Shares of TSE CAR.UN opened at C$43.22 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65. The stock has a market capitalization of C$7.24 billion, a PE ratio of -17.79, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. The stock’s fifty day simple moving average is C$46.50 and its two-hundred day simple moving average is C$46.70. Canadian Apartment Properties REIT has a 12-month low of C$40.52 and a 12-month high of C$54.60.

About Canadian Apartment Properties REIT

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.