ATB Cormark Capital Markets Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$43.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective dropped by analysts at ATB Cormark Capital Markets from C$48.00 to C$43.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would indicate a potential upside of 26.73% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce lowered their price objective on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a research note on Monday. TD cut 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 research report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$45.31.

Canadian Apartment Properties REIT Stock Up 0.6%

Shares of TSE CAR.UN traded up C$0.21 during midday trading on Tuesday, hitting C$33.93. The stock had a trading volume of 213,949 shares, compared to its average volume of 478,621. The company has a market cap of C$5.20 billion, a P/E ratio of 3,978.19, a PEG ratio of -10.12 and a beta of 0.81. Canadian Apartment Properties REIT has a 52 week low of C$33.15 and a 52 week high of C$43.27. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05. The business’s 50 day moving average is C$35.00 and its 200-day moving average is C$36.04.

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