Canadian Apartment Properties REIT (TSE:CAR.UN) Receives C$57.17 Consensus Target Price from Analysts

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) have received an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$57.17.

A number of research firms recently issued reports on CAR.UN. CIBC boosted their target price on shares of Canadian Apartment Properties REIT from C$55.00 to C$58.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. National Bankshares decreased their price target on shares of Canadian Apartment Properties REIT from C$63.00 to C$61.50 in a report on Monday, November 11th. Raymond James dropped their price objective on Canadian Apartment Properties REIT from C$59.50 to C$58.00 in a report on Monday, November 11th. TD Securities cut their target price on Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a research report on Monday, November 11th. Finally, Scotiabank lowered their price target on Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th.

Canadian Apartment Properties REIT Stock Up 0.8 %

CAR.UN opened at C$42.51 on Friday. The stock has a market capitalization of C$7.11 billion, a price-to-earnings ratio of -132.84, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. Canadian Apartment Properties REIT has a 12 month low of C$41.67 and a 12 month high of C$56.71. 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 business has a 50-day moving average of C$45.74 and a two-hundred day moving average of C$48.06.

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.