Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$67.22 Average Price Target from Brokerages

Canadian Apartment Properties REIT (TSE:CAR.UN) has been given an average rating of “Buy” by the nine research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$67.22.

Several research firms have recently commented on CAR.UN. National Bankshares lifted their target price on Canadian Apartment Properties REIT from C$65.50 to C$68.50 in a research note on Monday, July 19th. National Bank Financial lifted their price objective on Canadian Apartment Properties REIT to C$68.50 and gave the stock a “na” rating in a research note on Monday, July 19th. TD Securities cut Canadian Apartment Properties REIT from an “action list buy” rating to a “buy” rating and set a C$70.00 price objective for the company. in a research note on Friday, August 13th. BMO Capital Markets lifted their price objective on Canadian Apartment Properties REIT from C$62.00 to C$68.50 and gave the stock a “na” rating in a research note on Tuesday, August 17th. Finally, Raymond James lifted their price objective on Canadian Apartment Properties REIT from C$68.00 to C$70.50 and gave the stock a “strong-buy” rating in a research note on Monday, August 16th.

CAR.UN traded down C$0.12 during trading on Friday, hitting C$60.84. The company’s stock had a trading volume of 50,671 shares, compared to its average volume of 336,236. The firm’s 50 day moving average price is C$61.36 and its two-hundred day moving average price is C$57.74. The company has a quick ratio of 0.18, a current ratio of 0.23 and a debt-to-equity ratio of 62.11. Canadian Apartment Properties REIT has a 12 month low of C$42.22 and a 12 month high of C$62.77. The stock has a market capitalization of C$10.50 billion and a price-to-earnings ratio of 7.85.

Canadian Apartment Properties REIT Company Profile

CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (“MHC”) primarily located in and near major urban centres across Canada. As at March 31, 2019, CAPREIT had owning interests in 53,143 residential units, comprised of 45,446 residential suites and 45 MHC, comprising 7,697 land lease sites.

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Analyst Recommendations for Canadian Apartment Properties REIT (TSE:CAR.UN)

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