CIBC Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$50.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by CIBC from C$55.00 to C$50.00 in a report issued on Tuesday,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the company. Raymond James reduced their target price on Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a report on Monday, January 13th. Scotiabank reduced their price objective on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research note on Monday, November 11th. TD Securities lowered their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research note on Monday, November 11th. National Bankshares reduced their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a research note on Monday, November 11th. Finally, BMO Capital Markets decreased their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$55.06.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$40.20 on Tuesday. The firm has a 50 day moving average of C$41.54 and a 200-day moving average of C$46.83. Canadian Apartment Properties REIT has a 12 month low of C$39.23 and a 12 month high of C$56.71. The company has a current ratio of 0.36, a quick ratio of 0.16 and a debt-to-equity ratio of 76.05. The stock has a market capitalization of C$6.72 billion, a PE ratio of -125.63, a PEG ratio of -10.12 and a beta of 1.23.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.