Raymond James Lowers Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$56.60

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective decreased by Raymond James from C$60.00 to C$56.60 in a research note released on Wednesday, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

CAR.UN has been the topic of several other reports. Laurentian set a C$55.00 price target on Canadian Apartment Properties REIT and gave the stock a buy rating in a research report on Monday, January 22nd. CIBC raised their price target on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a neutral rating in a research report on Monday, February 26th. National Bankshares reduced their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating on the stock in a research report on Wednesday. BMO Capital Markets increased their price objective on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an outperform rating in a report on Monday, February 26th. Finally, TD Securities increased their price objective on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an action list buy rating in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of Moderate Buy and an average target price of C$56.37.

Canadian Apartment Properties REIT Price Performance

CAR.UN opened at C$43.22 on Wednesday. The stock’s 50 day simple moving average is C$46.65 and its 200 day simple moving average is C$46.72. The company has a debt-to-equity ratio of 76.65, a current ratio of 0.19 and a quick ratio of 0.16. Canadian Apartment Properties REIT has a 1 year low of C$40.52 and a 1 year high of C$54.60. The firm has a market cap of C$7.24 billion, a price-to-earnings ratio of -17.79, a PEG ratio of -10.12 and a beta of 1.18.

About Canadian Apartment Properties REIT

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.