Raymond James Has Lowered Expectations for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its price target reduced by equities researchers at Raymond James from C$54.50 to C$52.00 in a research note issued on Thursday,BayStreet.CA reports. Raymond James’ target price would suggest a potential upside of 30.62% from the company’s previous close.

A number of other equities research analysts have also issued reports on CAR.UN. 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. TD Securities increased their target price on Canadian Apartment Properties REIT from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Tuesday. CIBC lowered their price target on Canadian Apartment Properties REIT from C$55.00 to C$50.00 in a report on Tuesday. BMO Capital Markets dropped their price target on Canadian Apartment Properties REIT from C$56.00 to C$54.00 in a research report on Monday, November 11th. Finally, Scotiabank reduced their price target on shares of Canadian Apartment Properties REIT from C$55.50 to C$53.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Apartment Properties REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of C$55.06.

Canadian Apartment Properties REIT Price Performance

Shares of TSE:CAR.UN opened at C$39.81 on Thursday. 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 one year low of C$39.23 and a one year high of C$56.71. The company has a market capitalization of C$6.65 billion, a PE ratio of -124.41, a price-to-earnings-growth ratio of -10.12 and a beta of 1.23. The stock has a fifty day moving average of C$41.46 and a 200-day moving average of C$46.76.

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.