Canadian Apartment Properties REIT (TSE:CAR.UN) Price Target Cut to C$60.00 by Analysts at TD Securities

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price cut by TD Securities from C$63.00 to C$60.00 in a report released on Wednesday morning, BayStreet.CA reports.

A number of other brokerages have also weighed in on CAR.UN. 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 report on Monday, February 26th. Scotiabank lowered 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 report on Monday, March 25th. National Bankshares lowered their price target 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 report on Wednesday. Raymond James lowered their price target on shares of Canadian Apartment Properties REIT from C$60.00 to C$56.60 and set an outperform rating for the company in a report on Wednesday. Finally, Laurentian set a C$55.00 price target on shares of Canadian Apartment Properties REIT and gave the company a buy rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$56.37.

Canadian Apartment Properties REIT Trading Down 0.1 %

Shares of CAR.UN opened at C$43.00 on Wednesday. The firm has a market cap of C$7.21 billion, a price-to-earnings ratio of -17.70, a PEG ratio of -10.12 and a beta of 1.18. The company has a debt-to-equity ratio of 76.65, a quick ratio of 0.16 and a current ratio of 0.19. Canadian Apartment Properties REIT has a fifty-two week low of C$40.52 and a fifty-two week high of C$54.60. The firm has a 50 day moving average price of C$46.92 and a 200-day moving average price of C$46.77.

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.