Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$58.00 at TD Securities

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target cut by TD Securities from C$62.00 to C$58.00 in a research report released on Monday,BayStreet.CA reports.

Several other research firms also recently commented on CAR.UN. CIBC lifted their price target on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Scotiabank lowered their price target on shares of Canadian Apartment Properties REIT from C$55.75 to C$55.50 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Canadian Apartment Properties REIT from C$58.00 to C$60.00 in a research note on Friday, August 9th. Raymond James boosted their target price on Canadian Apartment Properties REIT from C$59.00 to C$61.00 in a research note on Friday, September 6th. Finally, BMO Capital Markets dropped their target price on Canadian Apartment Properties REIT from C$61.00 to C$56.00 in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of C$56.91.

Canadian Apartment Properties REIT Stock Performance

Canadian Apartment Properties REIT stock opened at C$44.99 on Monday. Canadian Apartment Properties REIT has a fifty-two week low of C$41.92 and a fifty-two week high of C$56.71. The firm’s fifty day moving average price is C$51.51 and its 200-day moving average price is C$48.06. The stock has a market cap of C$7.52 billion, a P/E ratio of -140.59, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.16 and a current ratio of 0.36.

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.