TD Securities Cuts Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target to C$60.00

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target decreased by analysts at TD Securities from C$63.00 to C$60.00 in a report released on Wednesday, BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 39.44% from the company’s current price.

CAR.UN has been the subject of a number of other reports. CIBC boosted their price target on Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. 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. Laurentian set a C$55.00 price target on Canadian Apartment Properties REIT and gave the stock a “buy” rating in a report on Monday, January 22nd. Scotiabank dropped their target price on Canadian Apartment Properties REIT from C$55.00 to C$53.75 and set an “outperform” rating for the company in a research note on Monday, March 25th. Finally, BMO Capital Markets upped their target price on Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Canadian Apartment Properties REIT presently has an average rating of “Moderate Buy” and an average target price of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of TSE CAR.UN traded down C$0.01 during trading on Wednesday, reaching C$43.03. The company had a trading volume of 157,149 shares, compared to its average volume of 394,248. Canadian Apartment Properties REIT has a twelve month low of C$40.52 and a twelve month high of C$54.60. The stock has a market capitalization of C$7.21 billion, a PE ratio of -17.71, a price-to-earnings-growth ratio of -10.12 and a beta of 1.18. The stock has a 50-day moving average price of C$47.03 and a two-hundred day moving average price of C$46.79. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65.

About Canadian Apartment Properties REIT

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.