Canadian Apartment Properties REIT (TSE:CAR.UN) PT Raised to C$57.00 at Cormark

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target lifted by Cormark from C$56.00 to C$57.00 in a research report released on Tuesday, BayStreet.CA reports.

A number of other brokerages also recently issued reports on CAR.UN. Raymond James cut their price objective on shares of 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, April 24th. Royal Bank of Canada upped their price target on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Scotiabank lifted their price objective on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research report on Friday, August 9th. 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. Finally, National Bankshares decreased their target price on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$56.77.

Canadian Apartment Properties REIT Stock Performance

CAR.UN stock opened at C$49.74 on Tuesday. The company has a debt-to-equity ratio of 75.56, a current ratio of 0.36 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. The company has a market cap of C$8.31 billion, a P/E ratio of -65.97, a price-to-earnings-growth ratio of -10.12 and a beta of 1.19. The stock’s fifty day moving average price is C$46.44 and its 200-day moving average price is C$46.33.

About Canadian Apartment Properties REIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.