TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$46.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price cut by stock analysts at TD Securities from C$47.00 to C$46.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 21.05% from the stock’s current price.

A number of other equities research analysts have also issued reports on CAR.UN. Scotiabank lowered their target price on Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research note on Tuesday, November 11th. Canadian Imperial Bank of Commerce decreased their price target on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a report on Monday, November 10th. Finally, BMO Capital Markets dropped their price objective on shares of Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a research note on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$47.44.

Canadian Apartment Properties REIT Price Performance

Canadian Apartment Properties REIT stock traded up C$0.35 during midday trading on Tuesday, reaching C$38.00. 340,964 shares of the company were exchanged, compared to its average volume of 544,921. The company has a market capitalization of C$5.85 billion, a price-to-earnings ratio of 96.74, a P/E/G ratio of -10.12 and a beta of 0.86. The firm’s 50-day simple moving average is C$37.89 and its 200-day simple moving average is C$39.34. Canadian Apartment Properties REIT has a 1 year low of C$35.32 and a 1 year high of C$46.29. 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 (TSE:CAR.UN) last posted its quarterly earnings results on Thursday, February 12th. The company reported C$0.56 earnings per share for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%. The company had revenue of C$243.30 million for the quarter.

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.