Royal Bank Of Canada Upgrades Automotive Properties Real Est Invt TR (TSE:APR.UN) to “Outperform”

Automotive Properties Real Est Invt TR (TSE:APR.UN) was upgraded by research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a C$13.00 price objective on the stock, up from their previous price objective of C$12.50. Royal Bank Of Canada’s target price points to a potential upside of 10.92% from the company’s previous close.

Separately, Raymond James Financial cut their price target on shares of Automotive Properties Real Est Invt TR from C$12.75 to C$12.50 and set an “outperform” rating for the company in a report on Thursday, November 20th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$12.67.

Automotive Properties Real Est Invt TR Price Performance

APR.UN traded down C$0.02 during trading on Friday, reaching C$11.72. 30,799 shares of the company were exchanged, compared to its average volume of 42,308. The company has a quick ratio of 0.02, a current ratio of 2.24 and a debt-to-equity ratio of 78.62. The company has a market cap of C$635.92 million, a price-to-earnings ratio of 13.80 and a beta of 0.73. Automotive Properties Real Est Invt TR has a 12-month low of C$9.04 and a 12-month high of C$11.91. The company’s 50-day moving average is C$11.35 and its two-hundred day moving average is C$11.24.

Automotive Properties Real Est Invt TR Company Profile

Automotive Properties Real Estate Investment Trust is an unincorporated open-ended real estate investment trust focused on investing in high-quality Canadian automotive properties tenanted by automotive dealership groups and automotive brands ranging from mass-market to ultra-luxury. The company holds a portfolio of best-in-class properties located in strategic Canadian urban markets across Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, and Quebec. The primary objectives of the REIT are to provide Unitholders with stable, sustainable and growing cash distributions, and to enhance and expand the REIT’s asset portfolio to maximize Unitholder value.