Canadian Apartment Properties REIT (TSE:CAR.UN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$56.77.

Several research analysts have recently weighed in on the company. Raymond James boosted their price target on Canadian Apartment Properties REIT from C$58.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Cormark boosted their target price on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. Royal Bank of Canada raised their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a report on Friday, August 9th. Finally, Scotiabank boosted their price objective on shares of Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a report on Friday, August 9th.

Canadian Apartment Properties REIT Stock Performance

Shares of Canadian Apartment Properties REIT stock opened at C$51.97 on Friday. Canadian Apartment Properties REIT has a 1 year low of C$40.52 and a 1 year high of C$54.60. The firm’s 50-day moving average is C$47.26 and its 200 day moving average is C$46.48. The stock has a market cap of C$8.69 billion, a price-to-earnings ratio of -162.41, a PEG ratio of -10.12 and a beta of 1.22. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16.

Canadian Apartment Properties REIT Company Profile

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.