Canadian Apartment Properties REIT (TSE:CAR.UN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$56.30.

Several research firms have recently commented on CAR.UN. Scotiabank increased their price objective on Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. TD Securities cut their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$58.00 in a research note on Friday, May 10th. National Bankshares cut their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Finally, Raymond James reduced their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating for the company in a report on Wednesday, April 24th.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN opened at C$48.90 on Tuesday. The stock has a market capitalization of C$8.17 billion, a price-to-earnings ratio of -65.20, a PEG ratio of -10.12 and a beta of 1.19. 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 fifty day simple moving average of C$45.34 and a 200 day simple moving average of C$46.18. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 76.89.

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.