Raymond James Raises Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$59.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective increased by investment analysts at Raymond James from C$58.00 to C$59.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 18.74% from the stock’s previous close.

Several other analysts have also issued reports on CAR.UN. TD Securities cut their price target on Canadian Apartment Properties REIT from C$63.00 to C$60.00 in a report on Wednesday, April 24th. National Bankshares cut their price target on Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Cormark boosted their price target on Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a report on Tuesday. Royal Bank of Canada boosted their price objective on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday. Finally, Scotiabank boosted their price objective on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research report on Friday. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$56.77.

Canadian Apartment Properties REIT Stock Performance

Shares of CAR.UN traded up C$0.62 during trading hours on Tuesday, hitting C$49.69. The stock had a trading volume of 78,197 shares, compared to its average volume of 373,034. The stock has a fifty day moving average price of C$46.19 and a 200 day moving average price of C$46.27. Canadian Apartment Properties REIT has a 12 month low of C$40.52 and a 12 month high of C$54.60. The company has a debt-to-equity ratio of 75.56, a current ratio of 0.36 and a quick ratio of 0.16. The firm has a market capitalization of C$8.30 billion, a PE ratio of -66.25, a PEG ratio of -10.12 and a beta of 1.19.

Canadian Apartment Properties REIT Company Profile

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at December 31, 2023, CAPREIT owns approximately 64,300 residential apartment suites, townhomes and manufactured home community sites that are well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe.