Royal Bank of Canada Raises Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$60.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price raised by Royal Bank of Canada from C$58.00 to C$60.00 in a research note issued on Friday, BayStreet.CA reports. Royal Bank of Canada’s price target indicates a potential upside of 21.26% from the company’s previous close.

A number of other research analysts have also recently issued reports on CAR.UN. National Bankshares decreased their price target 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 report on Wednesday, April 24th. Raymond James decreased their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Scotiabank boosted their target price on shares of Canadian Apartment Properties REIT from C$53.75 to C$54.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Finally, TD Securities cut their price objective on Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$56.49.

Canadian Apartment Properties REIT Trading Up 1.6 %

Shares of Canadian Apartment Properties REIT stock traded up C$0.80 on Friday, hitting C$49.48. 113,091 shares of the company traded hands, compared to its average volume of 373,992. The company has a market cap of C$8.27 billion, a PE ratio of -65.92, a PEG ratio of -10.12 and a beta of 1.19. Canadian Apartment Properties REIT has a 52 week low of C$40.52 and a 52 week high of C$54.60. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 75.56. The stock’s 50 day moving average price is C$45.99 and its 200-day moving average price is C$46.26.

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.