Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$53.75 by Analysts at Scotiabank

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective trimmed by Scotiabank from C$55.00 to C$53.75 in a research report report published on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. TD Securities boosted their price objective on Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the company an action list buy rating in a research note on Monday, February 26th. National Bankshares upped their target price on shares of Canadian Apartment Properties REIT from C$55.50 to C$60.00 and gave the company an outperform rating in a report on Monday, February 26th. BMO Capital Markets boosted their price target on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an outperform rating in a research report on Monday, February 26th. CIBC upped their price objective on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the company a neutral rating in a research note on Monday, February 26th. Finally, Canaccord Genuity Group downgraded Canadian Apartment Properties REIT from a buy rating to a hold rating and lifted their target price for the company from C$50.50 to C$53.50 in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Canadian Apartment Properties REIT currently has an average rating of Moderate Buy and a consensus target price of C$57.10.

Canadian Apartment Properties REIT Price Performance

Shares of CAR.UN opened at C$46.41 on Monday. The firm has a fifty day moving average price of C$48.24 and a 200 day moving average price of C$47.12. The stock has a market cap of C$7.78 billion, a PE ratio of -19.10, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$54.60. 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 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.