Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$56.60 by Analysts at Raymond James

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price objective cut by Raymond James from C$60.00 to C$56.60 in a report released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. CIBC boosted their price objective on shares of Canadian Apartment Properties REIT from C$50.00 to C$55.00 and gave the stock a neutral rating in a research note on Monday, February 26th. National Bankshares reduced their price objective on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.00 and set an outperform rating for the company in a research note on Wednesday. BMO Capital Markets boosted their price objective on shares of Canadian Apartment Properties REIT from C$52.00 to C$57.00 and gave the stock an outperform rating in a research note on Monday, February 26th. Scotiabank reduced their price objective on shares of 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, TD Securities boosted their price objective on shares of Canadian Apartment Properties REIT from C$61.00 to C$62.00 and gave the stock an action list buy rating in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of C$56.37.

Canadian Apartment Properties REIT Price Performance

Shares of Canadian Apartment Properties REIT stock opened at C$43.22 on Wednesday. The firm has a fifty day simple moving average of C$46.50 and a 200-day simple moving average of C$46.70. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 76.65. Canadian Apartment Properties REIT has a 1-year low of C$40.52 and a 1-year high of C$54.60. The stock has a market capitalization of C$7.24 billion, a price-to-earnings ratio of -17.79, a PEG ratio of -10.12 and a beta of 1.18.

Canadian Apartment Properties REIT Company Profile

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.