CIBC Forecasts Strong Price Appreciation for Automotive Properties Real Est Invt TR (TSE:APR.UN) Stock

Automotive Properties Real Est Invt TR (TSE:APR.UN) had its price objective boosted by research analysts at CIBC from C$12.75 to C$13.00 in a report released on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 6.30% from the stock’s current price.

A number of other analysts have also recently issued reports on APR.UN. BMO Capital Markets raised their target price on shares of Automotive Properties Real Est Invt TR from C$12.00 to C$12.50 in a research note on Monday, October 28th. Royal Bank of Canada raised their target price on shares of Automotive Properties Real Est Invt TR from C$11.50 to C$12.50 in a research note on Monday, August 19th. Raymond James raised their price target on shares of Automotive Properties Real Est Invt TR from C$12.00 to C$13.00 in a research report on Friday, September 6th. Canaccord Genuity Group raised their price target on shares of Automotive Properties Real Est Invt TR from C$12.60 to C$13.50 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, TD Securities raised their price target on shares of Automotive Properties Real Est Invt TR from C$12.00 to C$13.00 and gave the stock a “hold” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$12.94.

Automotive Properties Real Est Invt TR Stock Performance

APR.UN stock traded down C$0.09 during trading hours on Friday, reaching C$12.23. The stock had a trading volume of 12,315 shares, compared to its average volume of 24,164. The stock has a 50-day simple moving average of C$12.29 and a 200 day simple moving average of C$10.96. The company has a debt-to-equity ratio of 78.62, a current ratio of 2.24 and a quick ratio of 0.02. The stock has a market capitalization of C$599.88 million, a PE ratio of 8.05 and a beta of 0.92. Automotive Properties Real Est Invt TR has a fifty-two week low of C$9.69 and a fifty-two week high of C$12.78.

About Automotive Properties Real Est Invt TR

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The REIT's portfolio currently consists of 54 income-producing commercial properties and one development property, representing approximately two million square feet of gross leasable area, in metropolitan markets across Ontario, Saskatchewan, Alberta, British Columbia and Québec.