Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$40.00 by Analysts at Canadian Imperial Bank of Commerce

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by investment analysts at Canadian Imperial Bank of Commerce from C$45.00 to C$40.00 in a report issued on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 18.62% from the company’s current price.

Separately, TD reduced their target price on Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$45.64.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN stock traded down C$0.53 on Monday, reaching C$33.72. 356,193 shares of the company were exchanged, compared to its average volume of 479,341. The company has a market cap of C$5.17 billion, a price-to-earnings ratio of 3,953.57, a P/E/G ratio of -10.12 and a beta of 0.81. The business has a 50-day moving average price of C$35.01 and a 200 day moving average price of C$36.08. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36. Canadian Apartment Properties REIT has a 1 year low of C$33.15 and a 1 year high of C$43.27.

Canadian Apartment Properties REIT (TSE:CAR.UN) last released its quarterly earnings results on Thursday, August 6th. The company reported C($0.42) earnings per share for the quarter. The company had revenue of C$246.41 million for the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.

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. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.