Canadian Apartment Properties REIT (TSE:CAR.UN) Given New C$61.00 Price Target at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price raised by investment analysts at Raymond James from C$59.00 to C$61.00 in a research report issued on Friday, BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 15.09% from the company’s previous close.

A number of other equities analysts have also commented on CAR.UN. Royal Bank of Canada raised their price target on shares of Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research report on Friday, August 9th. Cormark lifted their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$57.00 in a research report on Tuesday, August 13th. TD Securities boosted their price target on Canadian Apartment Properties REIT from C$60.00 to C$62.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Scotiabank raised their price objective on Canadian Apartment Properties REIT from C$54.00 to C$54.25 in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Apartment Properties REIT presently has a consensus rating of “Moderate Buy” and an average target price of C$57.10.

Canadian Apartment Properties REIT Stock Performance

TSE CAR.UN traded down C$0.01 on Friday, reaching C$53.00. The stock had a trading volume of 152,375 shares, compared to its average volume of 370,051. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The company has a market cap of C$8.86 billion, a P/E ratio of -165.28, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The firm has a fifty day moving average of C$48.85 and a two-hundred day moving average of C$46.69. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$54.60.

About Canadian Apartment Properties REIT

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.