Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Lowered to C$50.00 at CIBC

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target dropped by equities researchers at CIBC from C$55.00 to C$50.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 23.30% from the stock’s previous close.

CAR.UN has been the subject of several other research reports. Raymond James decreased their target price on shares of Canadian Apartment Properties REIT from C$58.00 to C$54.50 in a research note on Monday, January 13th. TD Securities cut their price target on shares of Canadian Apartment Properties REIT from C$62.00 to C$58.00 in a report on Monday, November 11th. National Bankshares cut 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. Scotiabank cut their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a report on Monday, November 11th. Finally, BMO Capital Markets cut their price target on shares of Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$55.38.

Canadian Apartment Properties REIT Stock Performance

TSE CAR.UN traded down C$0.08 during trading hours on Tuesday, hitting C$40.55. The company had a trading volume of 270,870 shares, compared to its average volume of 498,637. 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 has a 1-year low of C$39.23 and a 1-year high of C$56.71. The company has a market cap of C$6.78 billion, a PE ratio of -126.72, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The business has a 50 day moving average of C$41.78 and a 200-day moving average of C$46.98.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.