Royal Bank of Canada Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$58.00

Canadian Apartment Properties REIT (TSE:CAR.UNFree Report) had its price objective reduced by Royal Bank of Canada from C$60.00 to C$58.00 in a report released on Friday morning, BayStreet.CA reports.

Several other analysts have also recently weighed in on the stock. Scotiabank reduced their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an outperform rating on the stock in a report on Monday, March 25th. Raymond James decreased their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an outperform rating for the company in a report on Wednesday, April 24th. Laurentian set a C$55.00 price objective on Canadian Apartment Properties REIT and gave the company a buy rating in a report on Monday, January 22nd. National Bankshares decreased their target price on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Finally, TD Securities lowered their price target on Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of C$56.22.

Check Out Our Latest Research Report on Canadian Apartment Properties REIT

Canadian Apartment Properties REIT Trading Up 0.1 %

TSE:CAR.UN traded up C$0.06 on Friday, reaching C$46.13. 134,213 shares of the company’s stock were exchanged, compared to its average volume of 383,215. The firm has a market capitalization of C$7.71 billion, a price-to-earnings ratio of -61.43, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. Canadian Apartment Properties REIT has a 52-week low of C$40.52 and a 52-week high of C$54.60. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of 76.40. The business has a fifty day moving average of C$45.54 and a 200-day moving average of C$46.75.

Canadian Apartment Properties REIT Company Profile

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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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